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31 July 2017
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Ambuja Cement has reported 12 per cent increase in June quarter consolidated net profit at ₹716 crore (₹642 crore) on the back of higher realisation. Net sales were up 15 per cent at ₹6,145 crore (₹ 5,359 crore). The company has declared an interim dividend of ₹1.60 a share. Sales volume was up five per cent at 6.05 million tonnes (5.76 mt).
Ajay Kapur, Managing Director, said the company has managed to register higher Ebitda, despite rising cost, especially that of power and fuel, due to focus on value added products and price premium on its products.
“Our investment in concrete laboratories, technical services and new products is paying off. We had maintained the brand equity and premium pricing due to clearly defined product and services,” he said.
Operating Ebitda was up 21 per cent at ₹1,290 crore (₹1,068 crore). The company’s subsidiary ACC net profit was up 33 per cent at ₹326 crore, while net sales increased 18 per cent to ₹3,329 crore.
In a standalone basis, net profit was down 13 per cent at ₹392 crore (₹452 crore) due to higher operating cost. The company attributed the fall in net profit to the variation in dividend paid by its subsidiary ACC.
Last June quarter, the profit was boosted by a dividend of ₹56 crore paid by ACC, while the same was received in the March quarter this year. Net sales were up 12 per cent at ₹2,823 crore (₹2,528 crore). Overall cost rose to ₹2,770 crore (₹2,474 crore).
Operating Ebitda was up 9 per cent at ₹651 crore (₹598 crore). The company expects the implementation of simplified tax structure GST to improve ease of doing business and benefit overall economy in the long run.
Source-businessline
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