Ambuja Cement net profit up 10% in March quarter

Mumbai, May 4 : Ambuja Cements, a part of the LafargeHolcim Group, on Friday reported a 10 per cent growth in its standalone net profit to Rs 272 crore for the January-March quarter of 2018, as compared to Rs 247 crore in the corresponding period last year.

Its net sales, in the quarter under review, stood at Rs 2,763 crore, up by nine per cent from Rs 2,530 crore in the same period last year.

"Our focus on reducing costs, improving productivity, and increasing capacity utilisation backed by strong attention to the retail segment and robust sales from our premium value added products led to a strong quarter with 29 per cent EBITDA growth," said the cement maker's Managing Director and CEO Ajay Kapur.

The company said topline growth of 9 per cent on a year-on-year basis was attributable to improved realisations and sales growth.

During this quarter, the rise in global oil and energy prices drove up power (and) fuel costs and diesel prices which impacted freight costs.

However, efficiencies improved, it said.

The cement manufacturer also expects the economy to grow strongly in 2018 on the back of higher demand spurred by the government's focus on infrastructure development (roads, highways, irrigation projects and railways), housing and increased rural spends.



Source: IANS