HeidelbergCement India Q2 Profit Surges Fivefold to Rs 35.8 Cr
Nov 06, 2023 19:07
HeidelbergCement India's net profit jumped five-fold to Rs 35.8 crore in Q2 FY24, driven by strong revenue growth and increased sales volume. The company's revenue rose by 11.93% to Rs 566.46 crore.
New Delhi, Nov 6 (PTI) HeidelbergCement India Ltd on Monday reported over a five-fold increase in its net profit at Rs 35.8 crore for the second quarter ended September 30, 2023.
The company had reported a net profit of Rs 7.01 crore in the July-September quarter period a year ago, according to a regulatory filing from HeidelbergCement India.
Its total revenue from operation was up 11.93 per cent to Rs 566.46 crore during the quarter under review. It was Rs 506.05 crore in the corresponding quarter of the previous fiscal.
"Revenue increased by 12 per cent driven by a 16 per cent increase in volume and was partially offset by a decrease in price of 4 per cent," HeidelbergCement India said.
In the September quarter, HeidelbergCemen's sales volume was up 16.3 per cent to 1,163 KT as against 999 KT in the corresponding quarter.
"On a per tonne basis, operating cost including freight decreased by 7 per cent mainly due to a decrease in fuel prices. EBITDA per tonne increase to 598, an increase of 26 per cent," it said.
HeidelbergCement India's total expenses in the September quarter were at Rs 532.47 crore, up 4.96 per cent.
Total income of HeidelbergCement in the September quarter was at Rs 580.72 crore, up 12.31 per cent.
Shares of HeidelbergCement India Ltd on Monday settled at Rs 189.25 on BSE, up 0.45 per cent from the previous close.
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