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Ambuja Cement has reported a 5 per cent fall in consolidated net profit at ₹684 crore (₹718 crore) for the quarter ended June 30, 2018, largely due to lower realisation and fall in contribution from its subsidiary ACC.
Revenue from operations was also down 5 per cent at ₹6,835 crore (₹7,207 crore).
On a standalone basis, its net profit was up 27 per cent at ₹499 crore (including a dividend of ₹141 crore from ACC) against ₹392 crore logged in the same quarter of the previous year.
Net Sales was up 4 per cent at ₹2,927 crore compared to ₹2,817 crore. The company expects demand to grow more strongly in the rural belt on account of increased in MSP of Kharif crops and prospects of a normal monsoon.
“Ambuja is well positioned to benefit from the upsurge in rural demand and the encouraging external environment. The continued focus on the retail segment is helping us reduce the impact of rising cost pressures,” said Ajay Kapur, Managing Director, Ambuja Cement.
Sales of premium products have helped the company register an higher operating EBITDA of ₹622 crore (₹651 crore) in the quarter under review. Better top line, improvement in productivity and efficiency parameters helped largely mitigate the rising cost pressures particularly from power and fuel in this quarter, it said.
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