HeidelbergCement India sees revenue rise by 7.2%

In its earnings statement for 1QFY16-17, HeidelbergCement India reported that its revenues rose by 7.2 per cent YoY, while net profits rose from INR34.4m (US$0.5m) to INR262.6m (US$3.9m).

According to reports in Mint, the company has benefitted from lower fuel and electricity prices as well as rising demand.

While revenues exceeded market expectations, operating profits were below forecast. Buoyant demand will help to sustain revenues, but high capacity utilisation of around 80-85 per cent and no current expansion plans will limit growth possibilities in the foreseeable future.