Ambuja Cements’ net profit increases by 31% in Q1 FY24, Real Estate News, ET RealEstate

August 27, 2023

NEW DELHI: Ambuja Cements, the cement and building material company of the diversified Adani Group, has reported a growth of 31.20% in its net consolidated profit during the quarter ended June 30, 2023. Its profit after tax stood at Rs 1,135.46 crore in Q1 FY24 as against Rs 865.44 crore it registered in the corresponding quarter of the previous fiscal, the company said in the regulatory filing.

The company’s net consolidated total revenue stood at Rs 8,976.14 crore, a growth of 9.87 per cent from Rs 8,169.58 crore it recorded in the similar quarter last year.

Ajay Kapur, whole time director & CEO of the company said, “We are delighted to report a strong performance in the first quarter of FY 2023-24, with a 9% increase in revenue, 55% increase in EBITDA and 31% increase in PAT compared to the previous year same quarter.

It witnessed cost reduction by 7.1% year-on-year from Rs 4,923 PMT to Rs 4,575 PMT while the Kiln fuel cost reduced by 17% from Rs. 2.49 per ‘000 kCal to Rs, 2.07 per ‘000 kCal.

WHRS of 18 MW at Bhatapara, Suli and Rauri have been commissioned in current quarter. Additional 33 MW at Suli, Ametha and Maratha is expected in this year. With this total WHRS capacity will be at 121 MW by year end.

Cost reduced by Rs. 348 PMT mainly driven by cost reduction journey and expected to further reduce given the various initiatives outlined. Cash & Cash equivalent improved and stands at Rs. 11,886 crore, the company said in the regulatory filing.

  • Published On Aug 2, 2023 at 11:30 AM IST

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