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HeidelberCement India, part of the German cement major, has posted a net profit of Rs 47.85 crore during the quarter ended March, 2014 compared with Rs 2.2 crore in the previous corresponding quarter.
The company's net sales during the quarter stood at Rs 395.06 crore - a rise of 7.6% against Rs 366.9 crore last year.
Meanwhile, the company's managing director and CEO Ashish Guha has stepped down from the company. In a statement, the company said that Guha tendered his resignation to HeidelbergCement group.
The Board has accepted the resignation but requested Guha to continue as CEO&MD of the Company till the appointment of a successor. The Board, however, acceded to Guha's request that it should not be beyond September 30, 2014, it added.
On BSE, shares of HeidelbergCement traded firm and closed at Rs 46.95, up 12.7% while key indices remained weak on Friday.
