HeidelbergCement India Q1 profit falls 25 pc to Rs 52 cr

HeidelbergCement India on Monday reported a 24.82 percent decline in net profit at Rs 51.61 crore for the June quarter 2022-23, impacted by an increase in operating cost.

The company had reported a net profit of Rs 68.65 crore in the April-June period a year ago, said HeidelbergCement in a BSE filing.

However, revenue from operation increased 6.10 percent to Rs 589.89 crore during the quarter under review from Rs 555.94 crore in the year-ago period.

''On a per tonne basis, total operating cost including freight increased by 24 percent y-o-y due to an unprecedented increase in coal, pet coke, diesel, and packaging costs. The increase in operating cost was partially offset by an increase in prices by 13 percent resulting in EBITDA of Rs 855 per tonne, a decrease of 23 percent y-o-y,'' said an earning statement by the company.

Its sales volume slipped 6.08 percent to 1,112-kilo tonnes during the quarter from 1,11,kilotonnesnnes in the year-ago period.

Revenue increased year-on-year driven by an increase in prices by 13 percent and partially offset by a decrease in volume by 6 percent, it said.

Total expenses were higher at Rs 530.84 crore as against Rs 462.60 crore earlier.

HeidelbergCement India stock on Monday settled at Rs 177.35 on BSE, up 0.17 percent from the previous close.