Companies

Ambuja Cement net down 29 pc on lower sales

Our Bureau Mumbai | Updated on July 24, 2020 Published on July 24, 2020

Ambuja Cement’s revenues from operations were down 34 per cent at ₹4,644 crore (₹7,074 crore).   -  BUSINESS LINE

Ambuja Cement has reported a 29 per cent drop in June quarter consolidated net profit at ₹593 crore against ₹832 crore logged in the same period last year, as the Covid pandemic hit sales volume.

Revenues from operations were down 34 per cent at ₹4,644 crore (₹7,074 crore).

The company resumed operations in a phased manner post April 20, after assessing the local situation.

Neeraj Akhoury, Managing Director & CEO, Ambuja Cement, said the country is working to surmount Covid-related challenges and managed to record an operating EBITDA margin of 28 per cent.

The drop in sales volume of 29 per cent was more than offset by lower costs, which fell by 31 per cent.

“The sharp focus on cost reductions across value chain and cash management has helped further strengthen our strong balance sheet,” he added.

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Published on July 24, 2020
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