Ambuja Cements Q1 profit at ₹789.63 crore, revenue at ₹8,311.48 crore
The Hindu
Ambuja Cements reports ₹789.63 crore net profit in Q1 FY24, expects growth driven by infrastructure projects and acquisitions.
Adani Group firm Ambuja Cements Ltd (ACL) on July 31 reported a consolidated net profit at ₹789.63 crore for the first quarter ended in June 2024.
The company had reported a net profit of ₹1,135.46 crore in the April-June period a year ago, according to a regulatory filing by ACL.
Its revenue from operations was at ₹8,311.48 crore during the June quarter compared to ₹8,712.90 crore in the corresponding period last fiscal.
According to ACL, the financial results for the current quarter, preceding quarter and FY24, also include the financial results of Sanghi, which was acquired in August last year. It also has the results of Asian Concretes and Cements Pvt Ltd (ACCPL), which was acquired by its subsidiary ACC.
“The results for the current quarter, preceding quarter and FY24, are not comparable with the quarter ended June 30, 2023, to that extent,” it said.
Total expenses in the June quarter were at ₹7,566.91 crore. The total Income of ACL, which also includes other income was at ₹8,666.20 crore in the June quarter.
The consolidated results of Ambuja Cements include the financial performance of its step-down firm ACC Ltd in which it owns around 51% stake and Sanghi Industries, a Gujarat-based company which the Adani group acquired last year.
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