Ambuja made 4% profit

Cement giant Ambuja Cements’s shares climbed over 4%. The company reported a rise of 6.80% in its total net profit for the first quarter ended March 31st.

The company’s scrip rose by 4.46% to Rs 180 on the BSE. At the National Stock Exchange (NSE), it gained 3.88% to Rs 179.

The company, which follows the January-December financial year, had clocked a net profit of Rs 695.30 crore in the corresponding period a year ago, Ambuja Cements said in a BSE filing.

Its revenue from operations was down 8.50 per cent to Rs 6,249.66 crore during the March 2020 quarter, compared with Rs 6,830.70 crore in the corresponding quarter of the previous financial year, impacted by de-growth in volumes due to the nationwide lockdown.

Ambuja Cements’ total expenses in the January-March quarter this year was down 2.44 per cent at Rs 5,388.38 crore, compared with Rs 6,151.66 crore.

The firm’s consolidated report also includes the financial performance of its step-down firm ACC Ltd.

While on a standalone basis, Ambuja Cement, part of Swiss firm LafargeHolcim, reported a decline of 6.52 per cent in its net profit to Rs 399.10 crore as against Rs 426.98 crore in the corresponding quarter last year.