Heidelberg Cement India Ltd on Friday reported a 33.13 per cent decline in its net profit to Rs 93.61 crore for the fourth quarter ended March 2022, mainly due to higher operating costs.
The company had reported a net profit of Rs 139.99 crore in the year-ago period, HeidelbergCement India said in a BSE filing.
However, its total revenue from operation increased 3.34 per cent to Rs 620.03 crore during the quarter under review against Rs 599.95 crore in the corresponding quarter of the previous fiscal.
HeidelbergCement India’s total expenses rose 10.35 per cent to Rs 534.60 crore in Q4 FY 2021-22 against Rs 484.42 crore a year ago.
“On a per tonne basis, total operating cost, including freight, increased by 13.6 per cent y-o-y mainly due to higher coal, pet coke, diesel and packaging cost. The increase in operating cost was partially offset by an increase in other operating income mainly pertaining to SGST incentive from Government of Madhya Pradesh,” said a post earning statement from HeidelbergCement India.
Its sales volume slipped 1.43 per cent to 1,234 Kilo Tonne during the quarter against 1,252 KT in the year-ago period.
For the fiscal ended March 2022, HeidelbergCement’s net profit was down 19.90 per cent at Rs 252.26 crore. Its was Rs 314.95 crore in the preceding fiscal.
Its revenue from operations grew 8.51 per cent to Rs 2,296.96 crore in 2021-22 compared to Rs 2,116.67 crore in FY21.
Meanwhile, in a separate filing, HeidelbergCement said its board in a meeting held on Friday has recommended a dividend of 90 per cent, which is Rs 9 per equity share of Rs 10 each for the financial year ended March 31, 2022.
Shares of HeidelbergCement India Ltd on Friday settled at Rs 185.60 apiece on BSE, down 0.16 per cent from the previous close. PTI KRH KRH BAL BAL
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