HeidelbergCement shares soar 20pc

NEW DELHI, Oct 28 (PTI): Shares of HeidelbergCement India Friday zoomed 20 per cent after the company reported over two- fold jump in net profit for the quarter ending September 30.

The stock soared 19.98 per cent to settle at Rs. 156.40-its 52-week high and also upper circuit limit-on BSE. At NSE, shares of the company jumped 20 per cent to close at Rs. 156.60-its one-year peak and upper circuit limit. In terms of equity volume, 4.75 lakh shares of the company were traded on BSE and over 32 lakh shares changed hands at NSE during the day.

HeidelbergCement India on Friday reported over two-fold jump in net profit to Rs. 33.2 crore for the quarter ending September 30 on account of lower expenses.

The company had posted a net profit of Rs. 16.5 crore during the same period previous fiscal, HeidelbergCement India said in a regulatory filing.

Net sales during the quarter under review declined 6.64 per cent to Rs. 419.9 crore as against Rs. 449.8 crore in the year ago period.

Total expenses during the period stood at Rs. 376.8 crore compared to Rs. 438.4 crore in the same period previous fiscal.

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