Ambuja Cements results: Q1 profit jumps four fold on higher cement sales
Ambuja Cements’s net profit jumped to Rs247 crore in the March quarter from Rs53.51 crore in the year-ago period on higher cement sales
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Bengaluru: India’s Ambuja Cements, part of global conglomerate LafargeHolcim Ltd, on Friday reported an over four-fold surge in first-quarter net profit, as higher cement sales volume and favourable pricing offset rising costs.
Net profit jumped to Rs247 crore ($38.41 million) in the quarter ended 31 March, from Rs53.51 million in the year-ago period, the cement major said.
Analysts on average expected the manufacturer of clinkers and cement to post a profit of Rs2.62 billion, according to Thomson Reuters data. Cement sales volume rose 2.7% in the quarter to 6.02 million tonnes.