HeidelbergCement India has reported net profit after tax of Rs 35.80 crore during the quarter ended September 30, 2023. It had registered profit after tax of Rs 7.01 crore in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net total income stood at Rs 580.72 crore in Q2 FY24, a growth of 12.31 per cent from Rs 517.06 crore in the similar quarter last year.
The board of directors approved the appointment of Atul Khosla as an additional director in the category of non-executive independent director of the company for a term of five years from November 6, 2023 until November 5, 2028.
The board also approved debottlenecking of clinker plant at Narsingarh with an investment of c. Rs 70.5 crore.
“On a per tonne basis, operating cost including freight decreased by c. 7% year-on-year mainly due to decrease in fuel prices. EBITDA per tonne increase to~ 598, an increase of c. 26% year-on-year,” said Joydeep Mukherjee, managing director of the company.
The company entered into long term green power purchase agreement for c. 37 GwH p.a. for its Narsingarh & Imlai plants in Madhya Pradesh.
It distributed dividend of Rs 7 per share for FY22-23. As at September 30, 2023, cash & bank balance stood at Rs 531.9 crore as against interest free borrowings of Rs 201 crore.
