Ambuja Cements Ltd.'s first-quarter profit fell but beat estimates.
Net profit of the cement maker—that follows calendar year financial reporting—declined 25.4% year-on-year to Rs 495.2 crore in the three months ended March, according to its exchange filing. That compares with the Rs 404.7 crore consensus estimate of analysts tracked by Bloomberg.
Ambuja Cements Key Highlights: Q1 CY22 (YoY)
Revenue rose 8.4% to Rs 3,925.5 crore, against the Rs 3,906.2-crore forecast.
Operating profit declined 19.1% to Rs 790.4 crore, compared with the estimated Rs 683.51 crore. That was mainly on account of higher fuel expenses.
Ebitda margin contracted to 20.1% from 26.9% a year ago. Analysts had pegged the metric at 17.5%.
Sales volume rose 3% to 7.5 million tonnes.
Shares of Ambuja Cements closed 0.1% higher before the results were announced compared with a 1.21% gain in the benchmark Nifty 50.
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