PTI | | Posted by Singh Rahul Sunilkumar
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.
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.
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.
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.