Today, HeidelbergCement India reported a 24.8 per cent decline in net profit to Rs 51.61 crore in the first quarter of the fiscal year 2023. The total revenue from operation was Rs 589.89 crore in the first quarter of this financial year. Compared with last financial year in the same period, growth was 6.1 per cent. Revenue increased by 13 per cent and was partially offset by a decrease of 6 per cent.

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The sale of volume decreased 6.1 per cent to 1,112-kilo tonne (KT) in the first quarter of FY22. The company’s profit before tax has slumped 33.26 per cent to Rs 69.31 crore in Q1 FY23 as against Rs 103.85 crore recorded in the same period a year ago. Also, EBITDA declined 27.5 per cent to Rs 95.1 crore in Q1 FY23.

On the Bombay Stock Exchange, shares of HeidelbergCement India were down 0.03 per cent to Rs 177.