HeidelbergCement Q1 profit rises 1.4% to Rs 52.32 cr amid easing fuel price

HeidelbergCement India on Tuesday reported a marginal rise of 1.37 per cent in net profit at Rs 52.32 crore for the first quarter ended June 30, amid easing fuel price and packaging cost.

The company had reported a net profit of Rs 51.61 crore in the April-June quarter a year ago, HeidelbergCement India said in a regulatory filing.

Its total revenue from operation rose marginally to Rs 595.64 crore during the quarter under review. It was Rs 589.89 crore in the corresponding quarter of the previous fiscal.

"On a per tonne basis, total operating cost including freight, decreased by 6 per cent y-o-y primarily due to a decrease in fuel prices and packaging cost," HeidelbergCement said in its earnings statement.

HeidelbergCement India's total expenses were at Rs 538.90 crore, up 1.51 per cent in the first quarter of the financial year 2023-24.

However, in the June quarter, HeidelbergCement's sales volume was up 8.2 per cent to 1,203 KT, as against 1,112 KT in the corresponding quarter.

Its total income in the June quarter was at Rs 609.02 crore, up 1.47 per cent.

Moreover "as of June 30, 2023, the cash & bank balance stood at Rs 610 crore as against interest-free borrowings of Rs 201 crore," it added.

HeidelbergCement India is a subsidiary of HeidelbergCement Group, Germany. The company has its operations in Central India at Damoh (Madhya Pradesh), Jhansi (Uttar Pradesh) and in Southern India at Ammasandra (Karnataka).

Shares of HeidelbergCement India Ltd on Tuesday closed at Rs 174.20 on BSE, down 1.94 per cent from the previous close.