Cement & Cement Products company Indian Hume Pipe Company announced Q3FY24 & 9MFY24 results:
Q3FY24 Highlights:
- Total Income: The Indian Hume Pipe Company reported a total income of Rs 320.23 crore for Q3, compared to Rs 406.41 crore in the same quarter of the previous year.
- EBIDTA: The company’s Earnings Before Interest, Taxes, Depreciation, and Amortization for the quarter stood at Rs 39.30 crore, slightly above the Rs 38.27 crore reported in the corresponding quarter of the previous year.
- Net Profit: Net profit for the quarter was Rs 15.14 crore, which is an increase from the Rs 12.65 crore realized in the same quarter of the previous fiscal year.
9MFY24 Highlights:
- Total Income: Over the nine-month period, the company's total income reached Rs 989.96 crore, down from Rs 1108.84 crore in the corresponding period last year.
- EBIDTA: The company's EBIDTA for the nine months was Rs 104.22 crore, a decrease from the prior period's amount of Rs 112.49 crore.
- Net Profit: The net profit for the nine-month period came in at Rs 33.96 crore compared to Rs 39.69 crore in the corresponding period of the previous year.
Business Updates:
- Revenue Comparison: The revenue from operations in Q3 and the nine-month period ended December 31, 2023, was lower than the corresponding periods of the last financial year.
- New Projects: Delays in project commencements have been noted due to pending design and drawing approvals.
- Land Compensation Inclusion: The income and profit for the previous financial year included Rs 14.64 crore as additional land compensation from NHAI for land acquired in 2011-12.
Real Estate Progress:
- Hadapsar, Pune Project: Of the total projected 12 residential towers, Phase I and II covering 507 flats have been launched.
- Bookings and Revenue: Out of the launched towers, 278 flats have been booked, totaling a sale value of Rs 202.70 crore, of which the company's share is Rs 77.03 crore with advanced receipts amounting to Rs 19.89 crore.
Order Book:
- Work Value: The estimated balance value of work as of January 31, 2024, stands at Rs 3309.62 crore.
- Prospective Projects: The company is the lowest bidder (L1) for two projects valued at Rs 1092.71 crore as of January 31, 2024.