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HeidelbergCement India Ltd on Monday reported an 81.66 per cent decline in its net profit at Rs 5.58 crore in the third quarter ended December 2022, on account of an increase in operating cost.

The company had reported a net profit of Rs 30.44 crore in the October-December quarter period a year ago, HeidelbergCement India said in a regulatory filing.

Its revenue from operation was flat at Rs 540.12 crore during the quarter under review as against Rs 544.52 crore in the corresponding quarter previous fiscal.

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The firm’s total expenses were at Rs 542.67 crore, up 5.52 per cent in Q3FY23.

“On a per tonne basis, operating costs, including freight increased by 8.8 per cent y/y (year-on-year) due to a steep increase in coal, Petcoke & diesel costs. The increase was partially offset by an increase in prices resulting in EBITDA of 339 per tonne, a decrease of 44 per cent y/y,” HeidelbergCement India said in its earning statement.

Its sales volume was down 2.9 per cent to 1,095 KT as against 1,095 KT of October-December of FY22.

“An increase in prices by 2.2 per cent was offset by 2.9 per cent decrease in volume,” it said.

Shares of HeidelbergCement India Ltd on Monday settled 3.19 per cent down at Rs 169.80 apiece on the BSE. PTI KRH SHW SHW