Earnings

Ambuja Cements Q1 net profit rises 57% to Rs 427 crore

Updated : April 30, 2019 07:31 PM IST

Ambuja Cements, a unit of global conglomerate LafargeHolcim, on Tuesday, reported a 57 percent year-on-year (YoY) jump in standalone net profit at Rs 427 crore for the first quarter ended March 2019.

In the corresponding quarter last year, the company posted a net profit of Rs 272 crore. CNBC-TV18 Polls had predicted a profit of Rs 318 crore for the quarter under review.

The standalone revenue in the January-March period increased to Rs 2,927.6 crore from Rs 2,862.6 crore in the year-ago period, Ambuja Cement said in a filing to BSE.

"The quarter ended March 19 saw steady growth in the top line. We have also reinforced our rural outreach program with an aim to increase the penetration of our product & solutions, thereby supporting our growth in the ensuing quarters. Ambuja has also increased its capacity to repurpose and utilize waste and grew significantly in that respect versus last year," said Bimlendra Jha, managing director and CEO, Ambuja Cement.

Shares of Ambuja Cements settled at Rs 220.70 apiece, down 2.30 percent on the BSE.

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