Heidelberg Cement Q2 net shoots up 7-fold to Rs 16.5 cr

Heidelberg Cement India today reported over 7-fold jump in net profit to Rs 16.5 crore for the September quarter, aided by better realisation and reduction in operating costs.

It had clocked a net profit of Rs 2.15 crore in the same period of last financial year, 2015-16, Heidelberg said in a BSE filing.

Total income of the company fell marginally to Rs 462.55 crore in the July-September quarter of the current fiscal as against Rs 467.78 crore a year ago.

Its total expenses were lower at Rs 414.95 crore than Rs 440.28 crore recorded in the year-ago period.

"Improvement in margins led by increase in average gross realisation per tonne by 2.7 per cent year-on-year (y-o-y) and reduction in operating costs (including freight) by 2.4 per cent y-o-y through concerted efforts," Heidelberg said.
 

The firm added that it achieved quarterly sales of around a million tonne in the September 2016-17 quarter.

Heidelberg Cement India, a subsidiary of Heidelberg Cement Group of Germany, has its operations in Central India at Damoh (Madhya Pradesh), Jhansi (Uttar Pradesh) and in Southern India at Ammasandra (Karnataka). The company has a capacity to 5.4 million tones per annum.