HeidelbergCement Q3 net loss at Rs 3.58 crore

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HeidelbergCement India today reported a standalone net loss of Rs 3.58 crore for the third quarter ended December 31, 2016.

The company had reported a net profit of Rs 8.90 crore in October-December period a year-ago, HeidelbergCement India said in a BSE filing.

Its total income from operations during the quarter under review was marginally down by 0.67 per cent to Rs 470.74 crore from Rs 473.94 crore in the corresponding quarter of last fiscal.

HeidelbergCement India's total expenses were up 1.25 per cent at Rs 439.53 crore during the quarter as against Rs 434.10 crore a year ago.

"Net loss of Rs 3.6 crore is due to one off provision for doubtful capital advance which is sub-judice," the company said in a statement.

HeidelbergCement India, a subsidiary of HeidelbergCement Group, Germany has achieved a quarter sales volume of 1.05 million tonnes in October-December period.

Shares of HeidelbergCement India today settled at Rs 125.95 apiece on BSE, down 4.62 from previous close.