Ambuja Cements reports net profit at Rs 513.7 cr in Q3; stock tumbles 7% from day's high

Ambuja Cements Ltd on Wednesday reported a 39 per cent rise on a year-on-year (YoY) basis in the net profit at Rs 513.68 crore in the December 2023 quarter. The company had reported a bottomline at Rs 368.99 crore in the year ago period. However, the profit figures came below the analysts' expectations.

Revenue from operation came in at Rs 4,439.52 crore, up about 8 per cent YoY, for the three months ended on December 31, 2023. The company's revenue from operation stood at Rs 4,128.52 crore in the corresponding quarter previous financial year.

Following the announcement of earnings, Shares of Ambuja Cements tumbled about 6.6 per cent from day's high at Rs 586 to Rs 547.45 during Wednesday's session. The total market capitalization of the company remained about Rs 1.1 lakh crore. The stock had settled at Rs 570.50 in Tuesday's trade.

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