Companies

Ambuja Cements Q1 net up 65% on better realisation

Our Bureau. Mumbai | Updated on April 29, 2021

Subsidiary ACC recorded 23% growth in net sales and 74% increase in net profit

Ambuja Cements has reported 65 per cent jump in consolidated net profit at ₹1,228 crore against ₹743 crore logged in the same period last year, on back of better realisation and higher output.

Revenue from operations was up 23 per cent at ₹7,715 crore (₹6,250 crore).

The company’s sales volume increased 24 per cent to 7.17 million tonnes against 5.76 mt.

Ebitda was up 54 per cent at ₹1,838 crore (₹1,191 crore).

The company’s subsidiary ACC recorded 23 per cent growth in net sales and 74 per cent increase in net profit in the March quarter.

Neeraj Akhoury, Managing Director & CEO, Ambuja Cements, said despite

strong and continuing headwinds on input prices including coal, petcoke and diesel, the company made significant progress on efficiency improvement that has had a positive impact on cost reduction, he added.

Synergies under the master supply agreement with ACC continue to be strongly positive for both companies, he said.

The upcoming facility in Marwar Mundwa, Rajasthan, will enhance clinker capacity by 3 mtpa and help improve cement sales by 5 mtpa, said Akhoury.

“We would like to remain cautiously optimistic for the year,” it said.

Published on April 29, 2021

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