HeidelbergCement India notes INR80m 1Q13-14 loss

HeidelbergCement India notes INR80m 1Q13-14 loss
29 July 2013

Higher input costs as well as a rise in fuel and power costs pushed HeidelbergCement’s Indian subsidiary into the red. The company reported a loss of INR79.5m (US$1.34m) for the first quarter ended 30 June 2013 in a BSE filing.

In the equivalent quarter of last financial year, the firm had reported a INR192.7m net profit.

However, HeidelbergCement India saw 1QFY12-13 income from operation rise to INR3.668bn from INR3.0744bn in 1QFY12-13.

Meanwhile, total expenses shot up from INR2.7575bn to INR3.5297bn as the company paid more for its raw materials, power, fuel and freight. Raw material costs increased from INR854.3m to INR1.0254bn, power and fuel from INR776.4m to INR1.0363bn and freight from INR404.5m to INR567.6m.

Published under Cement News