HeidelbergCement India’s net profit up 1.38% in Q1 FY24, Real Estate News, ET RealEstate

July 18, 2023

NEW DELHI: HeidelbergCement India has reported a growth of 1.38 per cent in its net profit during the quarter ended June 2023. Its profit after tax stood at Rs 52.32 crore as against Rs 51.61 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.

The company’s total income stood at Rs 609 crore in Q1 FY24, a growth of 1.50 per cent from Rs 600 crore it recorded in the similar quarter last year.

Revenue increased by 1% year-on-year driven by an increase in volume by c. 8% and partially offset by a decrease in prices by c. 7%. Decrease in prices is driven by market prices and State Goods and Services Tax (SGST) incentive that ended after a period of 10 years in February 2023.

On a per tonne basis, total operating cost including freight decreased by c. 6% year-on-year primarily due to a decrease in fuel prices and packaging cost. The decrease in operating cost was partially offset by the decrease in prices resulting in EBITDA off 772 per tonne, a decrease Of C. 10% year-on-year.

As at June 30, 2023, the cash & bank balance stood at Rs 610 crore as against interest free borrowings of Rs 201 crore, the company said in a media release.

  • Published On Jul 18, 2023 at 05:01 PM IST

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