Ambuja Cement Q3FY24 net profit rises 123% to Rs 1,089.55 crore | india business news
Ahmedabad: Owned by Adani Group, Ambuja Cementposted a consolidated Net Profit Company’s profit increased by Rs 1,089.55 crore during the third quarter of FY 2024 123% Whereas in the same quarter of FY 2023 it was Rs 487.88 crore.
The company’s revenues increased significantly due to rising prices and increased demand for construction materials. Ambuja Cements posted 2.8% Rise Its consolidated revenue from operations stood at Rs 8,128.8 crore. On a sequential basis, revenue rose 9.4% and profit rose 10.4%.
“Demand from the cement industry is expected to grow between 7% to 8% due to investment in infrastructure and real estate projects,” the company said in a statement.
“Higher domestic coal consumption helped improve coal costs and this trend is expected to continue. The opportunity to purchase low cost pet coke in the last few weeks will help further optimize fuel costs in the coming quarters and bodes well for our cost optimization journey, the company said in a statement.
The company’s revenues increased significantly due to rising prices and increased demand for construction materials. Ambuja Cements posted 2.8% Rise Its consolidated revenue from operations stood at Rs 8,128.8 crore. On a sequential basis, revenue rose 9.4% and profit rose 10.4%.
“Demand from the cement industry is expected to grow between 7% to 8% due to investment in infrastructure and real estate projects,” the company said in a statement.
“Higher domestic coal consumption helped improve coal costs and this trend is expected to continue. The opportunity to purchase low cost pet coke in the last few weeks will help further optimize fuel costs in the coming quarters and bodes well for our cost optimization journey, the company said in a statement.
