NEW DELHI: Ambuja Cement Ltd on Tuesday reported 35.18% increase in its consolidated net profit at ₹695.30 crore for the first quarter ended March, 2019 led by volume growth.
The company, which follows January-December fiscal, had posted a consolidated net profit of ₹514.34 crore in the January-March period a year ago, Ambuja Cement said in a regulatory filing.
The company's total income during the March quarter was at ₹7,093.27 crore, up 8.36 % from ₹6,545.91 crore reported in the corresponding quarter a year ago.
"The quarter ended March 2019 saw a steady growth in top line. On the market side, we have introduced various innovative products to deliver superior experience and to become a preferred partner for our customers," Ambuja Cement Managing Director and CEO Bimlendra Jha said.
Total expenses in the quarter under review rose 6.23% to ₹6,151.66 crore from ₹5,790.43 crore a year ago.
Cement sales volume was up 2.41% to 6.37 million tonne as against 6.22 million tonne last year.
"Cement volumes grew 2.4% in quarter 1 of 2019, while net sales grew by 3% year on year," the company said.
Premium products saw a double-digit sales growth in January-March 2019 over the previous quarter, it added.
On the outlook, Jha said: "Government's thrust and higher outlays on infrastructure and affordable housing apart from reduction in rates for under-construction flats should further accelerate construction activity and spur cement demand."
Shares of Ambuja Cement Tuesday settled at ₹220.70 apiece on the BSE, down 2.30 per cent from the previous close.