Ambuja Cement Posts Q3 Net Profit Of Rs 216 Crore
Ambuja Cement on Thursday reported consolidated web revenue of Rs 216.11 crore for the September quarter aided by means of dividend earnings from cement maker ACC Ltd.
A part of the Swiss cement large LafargeHolcim, it had clocked an internet revenue of Rs 153.93 crore within the yr-ago period, Ambuja stated in a BSE submitting.
Total consolidated earnings of the organization stood at Rs four,533.59 crores in July-September quarter of 2016. It had pronounced web sales of Rs 2,a hundred and fifteen.29 crore in the course of the same quarter of final yr. It follows January-December as economic yr.
Whole bills of the manufacturer were at Rs 4,627.Seventy-four crore throughout the quarter below assessment. They stood at Rs 1,958.Sixty-two crores for the period of the period same period final year.
The organization stated figures for the September 2016 quarter usually are not similar with these within the corresponding period as the corporation’s merger with HIPL was once permitted within the third quarter.
On web profit, the company stated expand is mostly by reason of dividend earnings of Rs 103 crore from ACC Ltd, upon the amalgamation of Holcim India (Pvt) Ltd (HIPL) with the corporation.
Nevertheless, Ambuja Cement’s sales fell by way of 6.6 percent to 4.5 million tons (MT) for the period of the September quarter towards 4.82 MT within the yr in the past period.
On the decline, the corporation said for the duration of the quarter, revenue realization extended with the aid of 2.8 per cent. Earnings quantity, however, was once curbed by 6.6 per cent as a result of heavy monsoon in core markets and subdued demand. The net earnings in phrases of worth were correspondingly decreased with the aid of four.3 percent.
In the course of the quarter, the firm obtained overseas funding merchandising Board’s popularity of acquisition of 24 per cent shares of HIPL for a money consideration of Rs three,500 crores and steadiness seventy-six percent by using issues of shares of the enterprise.
Additional, pursuant a to the scheme of amalgamation, HIPL has been amalgamated with Ambuja Cement with the result from the appointed date — April 1, 2013.
As a result, the corporation has received 50.05 per cent shareholding in ACC Ltd, it introduced.
On outlook, the company stated: “submit monsoon building routine are more likely to decide on up. The medium to a long run outlook for cement demand remains positive in view that just right monsoon this yr and executive’s focal point on housing and infrastructure development”.
Ambuja Cement would continue to focal point on making improvements to operational efficiencies, it delivered.
Image source : vanillanews.com