Ambuja Cements sees multifold rise in Q2 profit to Rs 987.24 crore; revenue up 4% at Rs 7,424 crore

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

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

Its consolidated revenue from operations was up 4.10 per cent to Rs 7,423.95 crore during the quarter under review. It was Rs 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.

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 Rs 6,564.28 crore, from Rs 7,175.81 crore a year ago.

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

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

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

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