HeidelbergCement India on Thursday posted 8.85 percent rise in profit at Rs 66.29 crore for the fourth quarter ended March 2020 helped by cost optimisation efforts.
The company had a net profit of Rs 60.90 crore in January -March a year ago, HeidelbergCement India said in a BSE filing.
However, revenue from operation was down 4.74 percent to Rs 509.29 crore during the quarter under review as against Rs 534.65 crore in the corresponding period previous fiscal.
“The company suspended manufacturing operations in its plants during last week of March 2020 which marginally impacted the performance of the company during the quarter and financial year ended March 31, 2020,” HeidelbergCement India said in a post earning statement.
According to the company, its PAT was higher as “on a per tonne basis, the company optimised its variable and fixed costs through various concentered measures.”
Total expenses were at Rs 426.21 crore in the latest quarter as against Rs 459.94 crore in the year-ago period, down 7.33 percent.
The company reported a decline of 9.99 percent in sales volume to 1,090 kilotonne as against 1,211 kilotonne in the year-ago quarter.
In 2019-20, its net profit was up 21.48 percent to Rs 268.06 crore as against Rs 220.66 crore in the previous year.
Revenue from operations in the last fiscal was Rs 2,157.64 crore. It was Rs 2,109.44 crore in 2018-19.
HeidelbergCement India is a subsidiary of HeidelbergCement Group, Germany.Shares of HeidelbergCement India settled at Rs 157.65 apiece on BSE, up 0.54 percent from the previous close.