HeidelbergCement India Q2 net profit doubles to Rs 33 crore

The firm had posted a net profit of Rs 16.5 crore during the same period previous fiscal

HeidelbergCement India today reported over two-fold jump in net profit to Rs 33.2 crore for the quarter ending September 30 on account of lower expenses.

The company had posted a net profit of Rs 16.5 crore during the same period previous fiscal, HeidelbergCement India said in a regulatory filing.

Net sales during the quarter under review declined 6.64 per cent to Rs 419.9 crore as against Rs 449.8 crore in the year ago period.

Total expenses during the period stood at Rs 376.8 crore compared to Rs 438.4 crore in the same period previous fiscal.

The company said markets continued to remain soft in general.

"Primary factors at play being monsoon and shortage of sand/aggregates in ket markets of Uttar Pradesh and Bihar," it added.

The stock was trading 19.98 per cent up at Rs 156.40 on BSE.