HeidelbergCement India’s profit & sales drop in 1HFY2021

HeidelbergCement India’s net profit in the six months to 30 September 2020 – the first half of its 2021 financial year – was $15.1 million, down by 19 per cent year-on-year from $18.6 million in the first half of the 2020 financial year. Its revenues fell by 17 per cent to $125 million from $151 million.

The company attributed the fall to the impacts of the on-going coronavirus outbreak. It said, “The company is taking all possible steps to mitigate the effects of COVID-19 on its business and operations. The management has also evaluated the possible impact of the pandemic on the business operation and, based on its assessment of the current indicators of the future economic conditions, it is expected that the carrying amount of assets will be recovered.”

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