HeidelbergCement India (HCIL) has reported a growth of 37.72 per cent in its net consolidated profit during the quarter ended March 31, 2024. Its profit after tax stood at Rs 48.16 crore in Q4 FY24 as against Rs 34.97 crore it recorded in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net total income stood at Rs 610.35 crore in Q4 FY24, a dip of 0.84 per cent from Rs 615.51 crore it recorded in the similar quarter last year.
The board of directors recommended dividend of Rs 8 per equity share of Rs 10 each (80%) for the financial year ended March 31, 2024.
The company has decided to permanently close the clinker production at Ammasandra plant. It will continue to operate cement grinding plant at Ammasandra with supply of clinker from reliable sources.
According to the company, the decrease in revenue was primarily due to 4.7% decrease in prices, partially offset by 4% increase in sales volume. It increased consumption of alternate fuels to the extent of 10%.
During FY24, the company has repaid its second tranche of interest-free loan of Rs 62.90 crore.