HeidelbergCement India’s profit down 23.7% to Rs 39.9 crore in Q1 FY25, ET RealEstate
NEW DELHI: HeidelbergCement India Ltd has reported a decline of 23.7 per cent in its net profit at Rs 39.9 crore for the first quarter ended June 2024. The company had reported a net profit of Rs 52.32 crore in the April-June period a year ago, according to a regulatory filing from HeidelbergCement India.
Its Revenue from operations was down 10.65 per cent to Rs 532.19 crore during the quarter under review, as against Rs 595.64 crore in the corresponding quarter of the previous fiscal.
The revenue decreased due to a 6 per cent reduction in volume and 5 per cent price reduction,” according to an earning statement from HeidelbergCement India, a subsidiary of Germany-based HeidelbergCement Group.
Total operating costs in the June quarter decreased, with freight costs reduced by 4 per cent per tonne, primarily due to lower fuel prices.
“The decrease in operating cost was partially offset by lower prices resulting in (Earnings Before Interest, Taxes, Depreciation, and Amortization) EBITDA of Rs 690 per tonne, a decrease of 11 per cent,” it said.
HeidelbergCement India’s total expenses in the June quarter were at Rs 490.85 crore, down 8.91 per cent.
Total income of HeidelbergCement was also down 10.62 per cent in the June quarter at Rs 544.32 crore.
Shares of HeidelbergCement India Ltd on Thursday were trading at Rs 230.25 apiece on BSE, down 1.58 per cent from the previous close.
