Ambuja Cements Q2 Results: Net profit jumps over four times to ₹643.9 crore; revenue up 8% YoY

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Ambuja Cements, the Adani Group cement manufacturing company, reported a four-fold jump in its standalone net profit for the quarter ended September 2023. The company’s net profit in Q2FY24 surged to ₹643.84 crore from ₹138.9 crore, in the same quarter of last fiscal.

Ambuja Cements’ standalone revenue from operations in the July-September quarter of FY24 increased 8% to ₹3,969.79 crore from ₹3,675.61 crore, YoY. Cement and Clinker sales volume in Q2FY24 increased to 7.6 million tonne from 7.1 million tonne.

Also Read: Adani Wilmar Q2 Results: Adani group firm posts net loss of ₹131 crore; revenue down 13% YoY; stock falls Earnings before interest, tax, depreciation and amortization (EBITDA) during the quarter surged to ₹771.5 crore from ₹313 crore, while EBITDA margin improved by 70 basis points (bps) to 11.9% from 11.2%, YoY. On a consolidated basis, the company's net profit surged to ₹792.96 crore from ₹93.18 crore, while revenue rose 4.10% to ₹7,423.95 crore from ₹7,131.39 crore in the corresponding quarter last fiscal.

(Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) “Along with strong demand for our premium cement products, our business performance improved due to operational excellence, supply chain management and sales & marketing excellence, Adjacencies benefits with Group companies are lowering input costs which is boosting EBITDA & Margin growth," said Ajay Kapur, Whole Time Director & CEO, Ambuja Cements. Operational efficiencies helped in reduction in Kiln fuel cost from ₹2.72/’000 kCal to ₹1.79/’000 kCal & CPP fuel cost from ₹2.27/’000 kCal to ₹1.65/’000 kCal.