Ambuja Cements’ total expenses were down 8.52 per cent at Rs 6,564.28 crore.
New Delhi:
Ambuja Cements Ltd on Wednesday reported a significant increase in consolidated net profit for the quarter ended on September 30. The company, now part of the Adani Group, recorded a net profit of Rs 987.24 crore, compared to Rs 51.30 crore in the same quarter last year. Their consolidated revenue from operations increased to Rs 7,423.95 crore during the quarter, from Rs 7,131.39 crore in the previous year.
The increase in profit was attributed to a focus on cost leadership, business synergies, and operational excellence, as stated in Ambuja Cements’ earning statement. The results also include the financial performance of its subsidiary ACC Ltd, in which Ambuja Cements owns a 51 percent stake.
Ambuja Cements’ total expenses decreased by 8.52 percent to Rs 6,564.28 crore, compared to Rs 7,175.81 crore in the previous year. The company’s total consolidated revenue in the September quarter rose by 9.1 percent to Rs 7,900 crore.
On a standalone basis, Ambuja Cements reported a four-fold increase in net profit to Rs 643.84 crore in the July-September quarter, compared to Rs 138.91 crore in the same quarter last year. The standalone revenue from operations also increased to Rs 3,969.79 crore, from Rs 3,675.61 crore last year.
As of Wednesday, shares of Ambuja Cements Ltd were trading at Rs 410.55 on BSE, down 3.29 percent from the previous close.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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