HeidelbergCement India reports quarterly loss

HeidelbergCement India has reported a loss for the third quarter of 2013 due to higher finance costs and depreciation expenses.

During the July-September period of 2013 the company reported a INR28.35 crore loss having registered a INR7.5 crore net profit in the same quarter of the last fiscal, it said in a filing to the Bombay Stock Exchange.

Total expenses rose to INR314.43 crore during the quarter from INR242.87 crore a year earlier mainly because of higher finance costs and depreciation and amortisation charges.  Finance costs rose to INR30.25 crore from INR2.33 crore while depreciation and amortisation expenses went up to INR27.42 crore from INR7.82 crore a year ago. Freight costs rose to INR42.24 crore from INR33.49 crore.