HeidelbergCement India Q1 Profit Falls 25% To Rs 52 Cr
The company had reported a net profit of Rs 68.65 crore in April-June period a year ago, said HeidelbergCement in a BSE filing
HeidelbergCement India on Monday reported 24.82 per cent decline in net profit at Rs 51.61 crore for June quarter 2022-23, impacted by an increase in operating cost. The company had reported a net profit of Rs 68.65 crore in April-June period a year ago, said HeidelbergCement in a BSE filing. However, revenue from operation increased 6.10 per cent to Rs 589.89 crore during the quarter under review from Rs 555.94 crore in the year-ago period.
“On a per tonne basis, total operating cost including freight increased by 24 per cent y-o-y due to an unprecedented increase in coal, petcoke, diesel and packaging costs. The increase in operating cost was partially offset by an increase in prices by 13 per cent resulting in EBITDA of Rs 855 per tonne, a decrease of 23 per cent y-o-y,” said an earning statement by the company.
Its sales volume slipped 6.08 per cent to 1,112 kilo tonne during the quarter from 1,184 kilo tonne in the year-ago period. Revenue increased year-on-year driven by an increase in prices by 13 per cent and partially offset by a decrease in volume by 6 per cent, it said. Total expenses were higher at Rs 530.84 crore as against Rs 462.60 crore earlier. HeidelbergCement India stock on Monday settled at Rs 177.35 on BSE, up 0.17 per cent from the previous close.