HeidelbergCement India's Profit Tumbles Amid Lower Demand

HeidelbergCement India Ltd reported an 83.5% drop in net profit for Q3 2024 due to decreased volume and prices. Revenue fell 10.6%, and EBITDA per tonne declined. The company, a subsidiary of German firm Heidelberg Materials, saw its expenses reduce by 5.7%. Shares slightly rose on the BSE.

HeidelbergCement India Ltd has announced an 83.5% decline in net profit for the third quarter ending December 2024, primarily due to decreased volumes and prices.

The company's net profit dropped to Rs 5.19 crore compared to Rs 31.47 crore in the same period last year, as reported in a regulatory filing. Revenue from operations also fell by 10.6%, bringing in Rs 542.82 crore, a decrease from Rs 607.13 crore the previous year.

The earnings report reveals that EBITDA per tonne plummeted to Rs 291, marking a 46.3% reduction. This was attributed to a 5.3% reduction in volume and a 5.6% decrease in price. Total expenses for HeidelbergCement were Rs 544.63 crore, a 5.7% decrease from last year. As a subsidiary of Germany's Heidelberg Materials, the company saw its shares trading at Rs 220.55 on the BSE, up 0.78% from the previous close.