Ambuja Cements reported a standalone net profit of Rs 495.2 crore for the first quarter ended March 31, 2022.
Ambuja Cements Ltd, part of Swiss building material major Holcim Group (Earlier LafargeHolcim), on Thursday reported a standalone net profit of Rs 495.2 crore for the first quarter ended March 31, 2022.
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In the corresponding quarter last year, the company posted a net profit of Rs 664.6 crore. CNBC-TV18 Polls had predicted a profit of Rs 458 crore for the quarter under review.
Net sales during the quarter increased to Rs 3,855 crore compared to Rs 3,579 crore in the corresponding quarter of the previous year, resulting in a growth of 8 percent.
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On the cost, freight cost per tonne declined 5 percent YoY supported by logistics efficiencies. Despite this gain, the total operating cost per tonne rose by 15 percent, due to increased fuel costs. EBITDA during the quarter is Rs 790 crore and operating EBIT is Rs 639 crore.
Coming to ACC Ltd, net sales during the quarter increased by 3 percent to Rs 4,322 crore compared to Rs 4,213 crore last year. The profit after tax stood at Rs 396 crore. The efficiency project 'Parvat' helped deliver one percent lower per tonne freight & forwarding cost despite fuel inflation.
Neeraj Akhoury, CEO, Holcim India and managing director & chief executive officer, Ambuja Cements said, "We are focused to be the most innovative and sustainable company by offering advanced environment-friendly construction products to our customers. The India Strategy 2025 for both Ambuja and ACC is under execution. Under this plan, we will realise industry-leading position in cost excellence, asset optimization, and sustainability.
Our new Marwar cement plant is now operating at full capacity. Our additional cement capacity expansions of around 9 million tons at Ropar and Bhatapara are on track. Our plan is to grow Cement capacity to 100 million tons per annum. Ambuja has recorded robust top-line growth of 8 percent. Our market-focused strategies are driving this performance. Ambuja Kawach, our green cement, has demonstrated growth of 66 percent year on year."
The results came after the close of the market hours. Shares of Ambuja Cements ended at Rs 383.55, down by Rs 1.20, or 0.31 percent on the BSE.
First Published: IST