Ambuja Cement announced Finance results report the Net profit jump 88% to Rs 441 crore
India is the second-largest cement manufacturing company on Ambuja Cement today announced Finance results reports show that net profit jumps the 80% percent to Rs.441 crore as against last year the same quarter Rs.235 crore.
The company total revenue Rs.2,802 crore as against last year revenue of Rs.2,556 crore, this year 8.6% percent increase in the total. As a result, operating EBITDA recorded a strong growth of 55% percent to Rs.681 crore with a margin of 55% percent this quarter and year-on-year changes 710 bps.
Ambuja Cement’s total operating cost per ton has declined by 8% percent on a year-on-year basis, on account of lower input costs and efficiency programs. In addition, network optimization has gained momentum due to the acceleration of the Master Supply Agreement with ACC. Outbound logistics cost is lower due to favorable market mix and efficiencies said the Management.
The company registered a strong volume growth of 8% percent.
The Board of Directors approved an interim Dividend to Rs.17 per equity shares.
Mr. Neeraj Akhoury, Managing Director said;
‘The Foundations of our business remain strong to drive growth, expand operating margins, and enhance cash conversion.
Robust improvements in operational efficiencies, cost reduction programs coupled with volume growth, have led to an Operating EBITDA increase by 55% for the quarter and a margin expansion of 710 bps. Our focus on working capital management has resulted in a strong positive cash conversion, We are executing our growth strategy, through a new plant at Marwar Mundwa in Rajasthan, which is scheduled to be commissioned in quarter 2,2021.
Ambuja Cement’s current share price Rs.253.60.
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