Profit revenue

Ambuja Cements Q1 Results: Check Net Profit, Revenue and Other BSE Filing Details

Ambuja Cements on Thursday reported a 25.46% decline in its consolidated net profit to Rs 865.44 crore for the June quarter 2022 due to higher fuel prices and related inflationary impacts.

The company, which tracks the fiscal year from January to December, had recorded a net profit of Rs 1,161.16 crore in the year-ago quarter, Ambuja Cements said in an ESB filing.

However, its operating revenue increased by 15.11% to Rs 8,032.88 crore in the quarter from Rs 6,978.24 crore in the corresponding quarter of the previous fiscal year.

Ambuja Cements’ total expenditure was Rs 7,276.72 crore, up 33.09% in the second quarter of 2022 from Rs 5,467.33 crore a year ago.

Ambuja Cements’ consolidated result also includes the financial performance of its shrinking company ACC Ltd.

On a stand-alone basis, Ambuja Cements recorded a 44.92% increase in net profit to Rs 1,047.90 crore from Rs 723.08 crore in the corresponding quarter last year.

Its standalone operating revenue was Rs 3,993.45 crore, up 18.45% in the April to June quarter from Rs 3,371.18 crore a year ago.

Ambuja Cements’ sales volume increased by 15.10% in the April-June quarter to 7.39 million tonnes per annum (MTPA) from 6.42 MTPA in the corresponding quarter.

For the first half of 2022, the consolidated net profit of Ambuja Cements decreased by 27.93% to Rs 1,721.90 crore from Rs 2,389.40 crore a year ago.

Its operating revenue increased by 8.43% to Rs 15,932.92 crore in 2022 during the January-June period. It was Rs 14,693.05 crore in H2 of 2021.

Neeraj Akhoury, CEO of Holcim India, and Managing Director and CEO of Ambuja Cements, said, “Ambuja delivered robust volume growth of 15% and revenue growth of 18%” in the quarter. .

However, “the April to June quarter of 2022 was impacted by higher fuel prices and related inflationary impacts,” he said, adding that this was partly mitigated by improved efficiency. .

“In addition, the supply framework agreement with ACC also led to strong performance on logistics costs,” he added.

While updating its expansion plans, Ambuja Cements said its plans for 8.5 million tons of cement capacity at Ropar and Bhatapara are on track.

During the outlook, the company said that the Reserve Bank of India at its June meeting noted that the national economic recovery is gaining strength.

“Investment activity should be aided by improving capacity utilization, boosting government investment spending and strengthening bank credit; this bodes well for cement demand. Additionally, rural consumption is expected to benefit from a normal monsoon due to improved agricultural prospects,” the company said. .

In May, Holcim had signed a binding agreement with the Adani Group to sell its operations in India, including its 63.11% stake in Ambuja Cement, which holds a 50.05% stake in ACC, as well as its working interest of 4.48% in ACC.

Shares of Ambuja Cements stood at Rs 370.95 on BSE on Tuesday, up 0.07% from the previous close.