Ambuja Cements Q1 net rises 10% to Rs 272 crore
Mumbai, May 4 (PTI) Ambuja Cements, a unit of global conglomerate LafargeHolcim, today reported a 10.12 per cent rise in standalone net profit at Rs 272 crore in the March quarter on higher sales volume.
The cement manufacturer had posted a net profit of Rs 247 crore in the same period last year. It follows January to December as its financial year.
The companys net sales rose to Rs 2,763 crore in the March quarter, from Rs 2,530 crore in the year-ago period.
"The topline growth of 9 per cent on a YoY basis is attributable to improved realisations and sales growth of premium brands - Compocem and Roof Special," Ambuja Cements said in a statement.
The companys sales volume also increased to 6.22 million ton in the March quarter, compared with 6.02 million ton in the corresponding period last year.
"During this quarter, the rise in global oil and energy prices drove up power and fuel costs and diesel prices which impacted freight costs. However, efficiencies improved," it added.
The cement makers operating EBITDA increased by 29 per cent year-on-year in the March quarter on productivity improvements and cost-saving measures by the company.
"Our focus on reducing costs, improving productivity, and increasing capacity utilisation backed by strong attention to the retail segment and robust sales from our premium value added products led to a strong quarter with 29 per cent EBITDA growth," said Ajay Kapur, managing director and chief executive officer, Ambuja Cement.
The companys scrip closed the day at Rs 236.95, down 1.46 per cent on the BSE, against 0.53 per cent decline in the benchmark. PTI AP SS SS