Ambuja Cement Q1 net profit declines 38% YoY to Rs 645 cr

Ambuja Cement reported a net profit of Rs 645 crore on August 2 for the April-June quarter of fiscal year 24, down 38% from a year ago. The lower annualized profit is likely due to a higher base effect in the corresponding quarter of the previous year due to higher other sales.
Adani Group, India’s second largest cement producer by market capitalization, posted revenue of Rs 8,713 crore in the same quarter, up 9% y/y.
Ambuja Cement’s consolidated EBITDA in the first quarter reached Rs 1,930 crore and profit margin improved from 6.7% to 22.2% year-on-year.
“Our synergies with Adani Group companies help reduce input costs, helping drive EBITDA growth. Furthermore, our plan to innovate through Group synergies and capital expenditure for efficiency and decarbonization while creating opportunities, will redefine the landscape of the cement industry,” said Ajay Kapur. , said Ambuja Cement’s director and full-time CEO. According to independent median estimates from Motilal Oswal Financial Services Limited, Kotak Institutional Equities, ICICI Securities and HDFC Securities, the company reported a net profit of Rs 585 million for the first quarter of fiscal 2024, down 44% from with last year. By year.