New Delhi: HeidelbergCement India Ltd on Wednesday described a 38.07 for every cent drop in net profit at Rs 48.94 crore for the quarter ended June 2020.
The company experienced documented a net profit of Rs 79.03 crore in the April-June interval of the previous fiscal, HeidelbergCement India stated in a BSE filing.
Total revenue from functions declined 30.80 for every cent to Rs 407.70 crore from Rs 589.23 crore in the corresponding quarter of 2019-20.
The corporation mentioned its sales volume declined because of to suspension of functions through the lockdown period of time.
“Volume lessened by 32 for each cent, principally driven by the suspension of operations in April 2020. The minimize in volume impacted revenue and profitability in the course of the quarter,” explained HeidelbergCement India, a subsidiary of HeidelbergCement Group.
Cement sales volume through the quarter was 857 KT as in opposition to 1,258 KT previously.
Complete expenses had been at Rs 342.99 crore as against Rs 479.25 crore in Q1 FY20, down 28.43 for every cent.
Shares of HeidelbergCement India Ltd settled at Rs 181.45 on BSE, up 2.05 for each cent from the former close.