HeidelbergCement India Q3 Profit Rises to Rs 31.47 Cr | Business News

New Delhi, Jan 31 (PTI) HeidelbergCement India Ltd on Wednesday reported an increase in net profit to Rs 31.47 crore for the December quarter, aided by reduction in operating costs.

The company had reported a net profit of Rs 5.58 crore in the year-ago period, HeidelbergCement India said in a regulatory filing.

Its total revenue from operations was up 12.4 per cent to Rs 607.13 crore in the third quarter of the ongoing fiscal. It was Rs 540.12 crore in the corresponding quarter of the previous fiscal.

"Revenue increased 12 per cent compared to the corresponding quarter of the previous year, driven by 10 per cent volume growth and 2 per cent price increase," the company said in an earning statement.

Its operating costs on a per-tonne basis, including freight "decreased 2.4 per cent year-on-year primarily due to decrease in coal and petcoke costs".

HeidelbergCement India's total expenses in the December quarter were Rs 577.58 crore, up 6.43 per cent.

In the December quarter, HeidelbergCement's sales volume was up 10.3 per cent to 1,208 KT.

Shares of HeidelbergCement India Ltd on Wednesday settled at Rs 234.20 on the BSE, down 1.26 per cent from its previous close.