Ambuja Cements Q2 results: Net profit jumps to ₹987.24 cr, operating cost down - Hindustan Times

Ambuja Cements Q2 results: Net profit jumps to 987.24 crore, operating cost down

PTI | | Posted by Singh Rahul Sunilkumar
Nov 01, 2023 02:59 PM IST

Ambuja Cements Q2 results: Multifold increase in consolidated net profit at ₹987.24 crore for the quarter ended September 30.

Ambuja Cements Ltd on Wednesday reported a multifold increase in consolidated net profit at 987.24 crore for the quarter ended on September 30, on reduction in operating cost.

Ambuja Cements Q2 results(Mint)
Ambuja Cements Q2 results(Mint)

The company, now part of the Adani Group, had clocked a net profit of 51.30 crore in the July-September quarter a year-ago, according to a regulatory filing by Ambuja Cements.

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Its consolidated revenue from operations was up 4.10 per cent to 7,423.95 crore during the quarter under review. It was 7,131.39 crore in the corresponding period of the last fiscal year.

"This could be achieved with high focus on cost leadership, business synergies and operational excellence," said an earning statement from Ambuja Cements.

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The consolidated results of Ambuja Cements include the financial performance of its step-down firm ACC Ltd, in which it owns around 51 per cent stake.

Ambuja Cements' total expenses were down 8.52 per cent at 6,564.28 crore, from 7,175.81 crore a year ago.

Its total consolidated revenue in the September quarter was up 9.1 per cent to 7,900 crore.

On a standalone basis, Ambuja Cements reported a four-fold jump in net profit to 643.84 crore in the July-September quarter, as against 138.91 crore in the year-ago quarter.

Its standalone revenue from operations increased 8 per cent to 3,969.79 crore, as against 3,675.61 crore earlier.

Shares of Ambuja Cements Ltd on Wednesday were trading at 410.55 on BSE, down 3.29 per cent from previous close.

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