HeidelbergCement India Ltd on Wednesday reported a 38.07 per cent decline in net profit at Rs 48.94 crore for the quarter ended June 2020. The company had reported a net profit of Rs 79.03 crore in the April-June period of the preceding fiscal, HeidelbergCement India said in a BSE filing.
Total revenue from operations declined 30.80 per cent to Rs 407.70 crore from Rs 589.23 crore in the corresponding quarter of 2019-20.
The company said its sales volume declined due to suspension of operations during the lockdown period.
"Volume decreased by 32 per cent, primarily driven by the suspension of operations in April 2020. The decrease in volume impacted revenue and profitability during the quarter," said HeidelbergCement India, a subsidiary of HeidelbergCement Group.