Heidelberg Cement India today reported a Rs 28.35 crore loss for the July-September quarter on higher finance costs and depreciation expenses.
The company, a subsidiary of German building material major Heidelberg Cement, had clocked Rs 7.5 crore net profit in the same quarter last fiscal, it said in a BSE filing.
Total expenses rose to Rs 314.43 crore during the quarter from Rs 242.87 crore a year earlier. This is mainly because of higher finance costs and depreciation and amortisation charges.
Finance costs increased to Rs 30.25 crore from Rs 2.33 crore, while depreciation and amortisation expenses went up to Rs 27.42 crore from Rs 7.82 crore a year ago. Freight costs rose to Rs 41.24 crore from Rs 33.49 crore.
Total income of the company during July-September quarter also increased to Rs 301.75 crore from Rs 256.32 crore during the same period a year ago.
Heidelberg Cement India recently sold its grinding unit in Raigard to JSW Steel. The company currently has a little over five million tonnes per annum cement-making capacity.