Ambuja Cements Q3 Net up 44% to Rs 239 cr

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Updated Fri, 31 Oct 2014 11:09:37 GMT

Ambuja Cements  today reported a 44 percent jump in net profit for the July-September quarter at Rs 239 crore on improved sales realisation. The company, in which Swiss building material major Holcim holds the majority stake, had reported Rs 166 crore net profit after tax in the same quarter last year. Ambuja Cements follows January-December accounting year.  "While the growth in cement sales volume during the quarter was marginally lower, the net sales increased by 9.2 percent as  compared to the previous quarter on account of improved sales realisation," it said in a statement. The improved sales realisation helped the company to earn higher EBITDA at Rs 393 crore as compared with the previous quarter of Rs 269 crore, a growth of 46.1 percent.  Net sales of the company rose to Rs 2,188 crore during the quarter from Rs 2,003 crore a year earlier, recording a 9.2 percent growth. Sales volume fell marginally to 4.67 million tonnes from 4.72 million tonnes a year ago. Hoping that cement demand would be better with the push of the government on housing and infrastructure sectors, Ambuja Cements believes it would help improve its performance.