Bengaluru: Ambuja Cements Ltd on Monday posted a 58.8% jump in fourth-quarter profit, exceeding analysts' estimates, as it logged higher cement sales and a tax benefit.
Standalone profit, which includes a joint operation accounted on a proportionate basis, came in at Rs. 537 crore ($75.22 million) for the quarter ended 31 December, from Rs. 338 crore a year earlier, the company said.
Analysts on average had expected the company, which is a unit of the world's largest cement maker LafargeHolcim Ltd , to post a profit of Rs. 295 crore, according to Refinitiv Eikon data.
During the quarter, the company saw a tax benefit of Rs. 333 crore.
Cement sales volume rose 4.4% to 6.13 million tonnes, the Mumbai headquartered cement maker said.
Cement sales for the quarter climbed 5.8% to ₹2,765 crore.