Ambuja Cements Q2 net profit falls 42% to ₹456 crore

The company’s revenue from operations for the quarter ending September 30, 2024 grew marginally to ₹7,516 crore as compared with ₹7,424 crore in the same period last year

Ambuja Cements Limited, part of Adani Group, for the second quarter, reported consolidated net profit of ₹456 crore as compared with ₹793 crore in the year ago period, down by 42%. 

The company’s revenue from operations for the quarter ending September 30, 2024 grew marginally to ₹7,516 crore as compared with ₹7,424 crore in the same period last year.

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“This performance is supported by healthy volume growth, increasing scale of operations, value extraction of acquired assets, enhanced cost leadership, improved operational efficiencies and group synergies,” the company said in a statement.

Ajay Kapur, Whole Time Director & CEO, Ambuja Cements, said, “We are glad to deliver another sustained performance aligned to our growth blueprint and setting new benchmarks in efficiency. We continue to focus on innovation, digitisation, customer satisfaction and ESG as the core elements of our business. With our strong foothold across the nation, we are further expanding our footprint in new geographies in-line with our vision.”

“Post successful completion of the Orient Cement transaction, we are well poised to achieve over 100 MTPA capacity by this fiscal year end,” he added.

Published - October 28, 2024 02:59 pm IST