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HeidelbergCement India’s Net Profit Declines By 38% In Q1 FY21

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Total revenue from operations declined 30.80 per cent to Rs 407.70 crore from Rs 589.23 crore in the corresponding quarter of 2019-20. 

HeidelbergCement India Ltd on Wednesday reported a 38.07 per cent decline in net profit at Rs 48.94 crore for the quarter ended June 2020. The company had reported a net profit of Rs 79.03 crore in the April-June period of the preceding fiscal, HeidelbergCement India said in a BSE filing. 

Total revenue from operations declined 30.80 per cent to Rs 407.70 crore from Rs 589.23 crore in the corresponding quarter of 2019-20. 

The company said its sales volume declined due to suspension of operations during the lockdown period. 

“Volume decreased by 32 per cent, primarily driven by the suspension of operations in April 2020. The decrease in volume impacted revenue and profitability during the quarter,” said HeidelbergCement India, a subsidiary of HeidelbergCement Group. 

Cement sales volume during the quarter was 857 KT as against 1,258 KT earlier. 

Total expenses were at Rs 342.99 crore as against Rs 479.25 crore in Q1 FY20, down 28.43 per cent. 

Shares of HeidelbergCement India Ltd settled at Rs 181.45 on BSE, up 2.05 per cent from the previous close.

Source: PTI

(Note: The story has been published without modifications to the text. Only the headline has been changed.)

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