Ambuja Cements Profit Rises 66% In March Quarter, Stock Edges Lower
Share price of Ambuja Cements declined around two per cent on Friday, April 30, 2021, a day after the cement producing major announced its January-March quarter results (fourth quarter) of the financial year 2020-21. On Friday, Ambuja Cements opened on the BSE at Rs 314.85, recording an intra day high of Rs 319.85 and an intra day low of Rs 306.85, in the session so far. According to a regulatory filing by the firm to the BSE, Ambuja Cements reported a growth of 66 per cent in standalone profit at Rs 664.6 crore in the fourth quarter of fiscal 2020-21, compared to Rs 399 crore in the corresponding quarter last year.
According to the statement, the revenues from operations stood at Rs 3621.4 crore in the March quarter, compared to Rs 2,827.5 crore. Ambuja Cement's total income on a standalone basis stood at Rs 3,676.55 crore in the quarter ended March 2021, compared to Rs 2,915.68 crore in the same quarter last year. The company stated that its greenfield integrated plant at Marwar Mundwa will start operations in the third quarter of the current fiscal year.Â
''Ambuja registered a strong performance in the first quarter of 2021 with 83 per cent growth in operating EBIT and 690 basis points expansion in EBIT margin. Despite strong and continuing headwinds on input prices including coal, petcoke, and diesel, we have made significant progress on efficiency improvement that has had a positive impact on cost evolution,'' said Mr. Neeraj Akhoury, CEO India for LafargeHolcim and Managing Director & CEO of Ambuja Cements Limited.Â
On Friday, Ambuja Cements opened on the NSE at Rs 314, registering an intra day high of Rs 319.85, and an intra low of Rs 306.75, in the trading session so far. It was last trading 1.39 per cent lower at Rs 309.70 on the NSE.
Ambuja Cements was last trading 1.45Â per cent lower at Rs 309.45Â on the BSE.
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