Heidelberg cement India Q1 net down
HeidelbergCement India reported a decline of 38.91 per cent in its net profit at Rs 16.04 crore for the first quarter ended June on account of declines in sales.
The company had reported a net profit of Rs 26.26 crore in the April-June quarter a year-ago, HeidelbergCement India said in a BSE filing.
Its total income from operations during the quarter under review was down 5.88 per cent to Rs 516 crore as against Rs 548.29 crore in the corresponding quarter of the last fiscal.
“Shortage of sand and aggregates in UP impacted construction leading to lower cement sales during the quarter,” said HeidelbergCement India.
It further added that “input cost increased primarily driven by increase in petcoke cost resulted in lower margins.”
HeidelbergCement Indias total expenses were down 3.30 per cent at Rs 491.20 crore during the quarter as against Rs 507.97 crore a year ago.
HeidelbergCement India, a subsidiary of HeidelbergCement Group, Germany, has achieved a quarter sales volume of 1.10 million tonnes in the first quarter of financial year 2017-18.