HeidelbergCement India\'s net profit up 50% in Q2 FY18

HeidelbergCement India's net profit up 50% in Q2 FY18

Total income during the quarter under review was at Rs 492.03 crore, up 14.90 per cent as against Rs 428.22 crore in the corresponding period of the last fiscal. PTI  |  October 26, 2018, 08:17 IST
HeidelbergCement India's net profit up 50% in Q2 FY18 NEW DELHI: HeidelbergCement India Thursday reported an increase of 50.48 per cent in its net profit at Rs 50.08 crore for the September quarter, helped by volume growth. The company had posted a net profit of Rs 33.28 crore in the July-September period a year ago, HeidelbergCement said in a BSE filing.

Total income during the quarter under review was at Rs 492.03 crore, up 14.90 per cent as against Rs 428.22 crore in the corresponding period of the last fiscal.

Total expenses stood at Rs 414.63 crore as against Rs

376.88 crore, up 10.01 per cent.

"Company's volume growth is driven by pick up in construction activities as availability of construction material improved in most parts of Central India especially in Uttar Pradesh," the company said in a statement.

Sales volume in July-September quarter this fiscal was 1,125 kilotonnes (KT) as against 1,063 KT earlier.

Meanwhile, in a separate filing, the company said its board has declared an interim dividend of Re 1 per equity share of Rs 10 each.

Shares of HeidelbergCement India settled at Rs 129.50 on BSE Thursday, up 4.94 per cent.