HeidelbergCement India reported a 38% increase in Q4 profit to Rs 48.16 crore, driven by lower operating costs. Revenue dipped slightly due to price reductions.
New Delhi, May 29 (PTI) HeidelbergCement India Ltd on Wednesday reported a 37.72 per cent increase in net profit to Rs 48.16 crore for the March quarter, aided by reduction in operating cost.
The company reported a net profit of Rs 34.97 crore in the year-ago period, HeidelbergCement India said in a regulatory filing.
Its total revenue from operation was down marginally to Rs 596.55 crore during the quarter under review. It was Rs 602.04 crore in the corresponding quarter of the previous fiscal.
"The company witnessed a marginal decline in revenue. This decrease was primarily due to 4.7 per cent decrease in prices," said an earning statement from the company.
HeidelbergCement India's total expenses in the March quarter were at Rs 544.54 crore, down 3.94 per cent.
"On per tonne basis, the total operating cost, including freight, decreased by 8.4 per cent. This cost reduction was primarily due to decrease in power and fuel expenses," it said.
In the March quarter, HeidelbergCement's sales volume was up 4 per cent to 1,233 KT.
Total income of HeidelbergCement was also marginally down in the March quarter at 610.35 crore.
For the financial year which ended on Mar 31, 2024, HeidelbergCement's consolidated net profit was up 69.15 per cent to Rs 167.75 crore. It was at Rs 99.17 crore a year earlier.
Its revenue from the operations in FY24 was up 5.7 per cent to Rs 2,365.78 crore. It was at Rs 2,238.10 crore a year earlier.
Shares of HeidelbergCement India Ltd on Wednesday settled at Rs 201.05 on the BSE, up 0.40 per cent from the previous close.
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