Ambuja Cements shares gain over 4% after company posts 6.8% rise in consolidated net profit in Jan-Mar quarter
Shares of Ambuja Cements Ltd on Tuesday gained over 4 percent in early trade after the company reported a 6.80 percent rise in its consolidated net profit for the first quarter ended 31 March
New Delhi: Shares of Ambuja Cements Ltd on Tuesday gained over 4 percent in early trade after the company reported a 6.80 percent rise in its consolidated net profit for the first quarter ended 31 March.
The company's scrip rose by 4.46 percent to Rs 180 on the BSE.
At the National Stock Exchange (NSE), it gained 3.88 percent to Rs 179.
Ambuja Cements Ltd on Monday reported a 6.80 percent rise in its consolidated net profit at Rs 742.59 crore for the first quarter ended 31 March.
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 percent 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 percent at Rs 5,388.38 crore, compared with Rs 6,151.66 crore.
LafargeHolcim subsidiary Holderind Investments increased its shareholding in Ambuja Cement to 63.11% and in ACC to 4.48%
In a filing to the bourses, Ambuja Cements also said it was not pursuing a merger with ACC at this point of time, though it remains the ultimate goal.
The Indian markets ended the day in green with Sensex closing at 18869.69, 45.78 points up (0.24 percent ) and Nifty closed at 5731.25 , 12.45 points up (0.22 percent) with the rupee trading at its five month-high at 52.34 against the dollar