HeidelbergCement’s net profit slumps 4.55% to Rs 59.56 cr in Q2 FY22
Cement

HeidelbergCement’s net profit slumps 4.55% to Rs 59.56 cr in Q2 FY22

Cement manufacturing major HeidelbergCement India reported a 4.55% drop in net profit to Rs 59.56 crore in Q2 FY22.

In the same quarter last year, the company reported a net profit of Rs 62.4 crore, according to a BSE filing.

During the second quarter of FY22, it generated Rs 569.24 crore in revenue from operations, up 11.03% from Rs 512.69 crore in the previous fiscal quarter.

HeidelbergCement India said in a separate filing that its independent director or chairperson Akila Krishnakumar has resigned and that the board has accepted her resignation.

In place of Akila Krishnakumar, the Board of Directors has appointed Ramakrishnan Ramamurthy, an independent director of the company, as Chairman of the Board of Directors, effective 20th October 2021.

Total operating costs including freight per tonne increased by 6.7% year over year, primarily due to significant increases in fuel, packaging, and diesel costs, the company told the media.

According to the company, sales volume increased by 11.1% to 1,231 KT in the quarter, compared to 1,108 KT in the previous quarter.

The company paid out an Rs 8 dividend per share. The company had a net cash balance of around Rs 79.60 crore as of 30th September 2021.

It also signed a long-term power purchase agreement to source approximately 22 GW hours of solar power per year for its Jhansi plant, which is expected to begin solar power supply in the fourth quarter of 2021.

Image Source


Also read: HeidelbergCement acquires 45% stake in Command Alkon

Cement manufacturing major HeidelbergCement India reported a 4.55% drop in net profit to Rs 59.56 crore in Q2 FY22. In the same quarter last year, the company reported a net profit of Rs 62.4 crore, according to a BSE filing. During the second quarter of FY22, it generated Rs 569.24 crore in revenue from operations, up 11.03% from Rs 512.69 crore in the previous fiscal quarter. HeidelbergCement India said in a separate filing that its independent director or chairperson Akila Krishnakumar has resigned and that the board has accepted her resignation. In place of Akila Krishnakumar, the Board of Directors has appointed Ramakrishnan Ramamurthy, an independent director of the company, as Chairman of the Board of Directors, effective 20th October 2021. Total operating costs including freight per tonne increased by 6.7% year over year, primarily due to significant increases in fuel, packaging, and diesel costs, the company told the media. According to the company, sales volume increased by 11.1% to 1,231 KT in the quarter, compared to 1,108 KT in the previous quarter. The company paid out an Rs 8 dividend per share. The company had a net cash balance of around Rs 79.60 crore as of 30th September 2021. It also signed a long-term power purchase agreement to source approximately 22 GW hours of solar power per year for its Jhansi plant, which is expected to begin solar power supply in the fourth quarter of 2021. Image SourceAlso read: HeidelbergCement acquires 45% stake in Command Alkon

Next Story
Infrastructure Urban

bauma Conexpo 2024 is it the largest edition, with 1,000 exhibitors

India's construction equipment industry is experiencing significant growth, fueled by rapid infrastructure development, expanding mining activities, and increasing urbanisation. bauma Conexpo India will bring together leaders, global players and decision-makers from the international trade fair for construction machinery, building material machines, mining machines and construction vehicles under one roof. The exhibition will host its biannual event at the India Expo Centre, Greater Noida  from 11 to 14 December 2024.In 2023, the exhibition attracted 41,108 participants as well as 601 exh..

Next Story
Infrastructure Urban

Our commitment to excellence and innovation drives our success

In India's dynamic industrial landscape, Gmmco, a comprehensive solutions provider across the construction, resources and energy transportation industries, stands as a testament to innovation. As a powerhouse of the CK Birla Group with a legacy spanning over five decades, the company has evolved from a traditional equipment supplier to a full-spectrum solutions provider, prioritising technology, innovation and sustainability. Its distinctive approach includes rental solutions, used equipment options, financing support, rebuilt options and tailored product support solutions, setting new benchma..

Next Story
Infrastructure Urban

Vedanta plans $2 billion investment in Saudi Arabia copper projects

Vedanta announced its plan to invest $2 billion in major copper projects in Saudi Arabia. Vedanta Copper International, a wholly-owned subsidiary of the company, has signed an agreement with Saudi Arabia's Ministry of Investment and Ministry of Industries & Mineral Resources. The agreement outlines the establishment of a greenfield copper smelter and refinery with a capacity of 400 kilo tonnes per annum (KTPA) and a 300 KTPA copper rod project. According to the company, this collaboration aligns with Saudi Arabia's Vision 2030 and aims to invest $2 billion in significant copper projects withi..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000