HeidelbergCement India sees profit slump in December 2022 quarter

HeidelbergCement India has reported total income of INR5506.7m (US$66.6m) in the quarter ended 31 December 2022, up from INR5170.6m in the previous quarter but down slightly on the INR5568.1m seen in the same quarter in 2021. Over the nine months ended 31 December 2022, total income came in at INR16,678.8m, down from INR17,135.9m in the same period a year earlier. 

Net profit in the quarter ended 31 December 2022 stood at INR55.8m, compared to INR70.1m in the previous quarter, and significantly down on the INR304.4m seen in the same period a year earlier. Over the nine months ended 31 December 2022, net profit of INR642m was reported, versus INR1586.5m in the same period in 2021. 

Earnings per share (EPS) declined from INR1.34 in the quarter ended 31 December 2021 to INR0.25 in the same period a year later. Over the nine months ended 31 December 2022, EPS were INR2.83, compared to INR7 in the same period a year earlier.