HeidelbergCement India Sees Sharp Decline in Q2 Profit

HeidelbergCement India Ltd reported a significant drop in net profit by 68.68% to Rs 11.21 crore for Q2 of FY2024, compared to Rs 35.8 crore the previous year. Revenue fell by 18.54% due to a decrease in volume and prices, and total expenses contracted by 13.8%.

HeidelbergCement India Ltd announced a substantial fall in its net profit, reporting a 68.68% decline to Rs 11.21 crore for the quarter ending September 2024. This is a sharp drop compared to the Rs 35.8 crore recorded during the same period in 2023.

The company's revenue from operations also dwindled, showing an 18.54% reduction to Rs 461.41 crore, influenced by a 15% decrease in volume and a 4% reduction in price. Consequently, the Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) per tonne decreased by 36% from the previous year.

Overall expenses of HeidelbergCement India stood at Rs 458.95 crore, a decline of 13.8%. The total income, including other income, also registered a fall of 18.34% to Rs 474.18 crore. On the stock market, the firm's shares closed at Rs 213.50, down by 1.95%.

(With inputs from agencies.)