HeidelbergCement India Q2 Profit Down 68.7% | Revenue Falls 18.5%

New Delhi, Oct 28 (PTI) HeidelbergCement India Ltd on Monday reported a 68.68 per cent decline in net profit to Rs 11.21 crore for the second quarter ended September 2024.

The company had reported a net profit of Rs 35.8 crore in the July-September quarter period a year ago, HeidelbergCement India said in a regulatory filing.

Its revenue from operations was down 18.54 per cent to Rs 461.41 crore during the second quarter of the ongoing fiscal year from Rs 566.46 crore a year ago.

HeidelbergCement "revenue decreased by 18.5 per cent y/y driven by 15 per cent decrease in volume and decrease in price 4 per cent", the company said in its earning statement.

Moreover, "driven by decrease in volume and prices, the company's EBITDA per tonne decreased to Rs 380, a decrease of 36 per cent y/y," it added.

HeidelbergCement India's total expenses in the September quarter were at Rs 458.95 crore, down 13.8 per cent.

Total income of HeidelbergCement, including other income, was also down 18.34 per cent in the September quarter at Rs 474.18 crore.

Shares of HeidelbergCement India Ltd on Monday settled at Rs 213.50 on the BSE, down 1.95 per cent from the previous close.