Ambuja Cements Posts Rs 537 Crore Profit In December Quarter

Analysts on average had expected the company to post a profit of Rs 295 crore, according to Refinitiv Eikon data.

Ambuja Cements Posts Rs 537 Crore Profit In December Quarter

Cement sales for the quarter climbed 5.8 per cent to Rs 2,765 crore.

Ambuja Cements on Monday posted a 58.8 per cent jump in fourth-quarter profit, exceeding analysts' estimates, as it logged higher cement sales and a tax benefit. Standalone profit, which includes a joint operation accounted on a proportionate basis, came in at Rs 537 crore ($75.22 million) for the quarter ended December 31, from Rs 338 crore a year earlier, the company said.

Analysts on average had expected the company, which is a unit of the world's largest cement maker LafargeHolcim, to post a profit of Rs 295 crore, according to Refinitiv Eikon data.

During the quarter, the company saw a tax benefit of Rs 333 crore.

Cement sales volume rose 4.4 per cent to 6.13 million tonnes, the Mumbai-headquartered cement maker said.

Cement sales for the quarter climbed 5.8 per cent to Rs 2,765 crore.

($1 = Rs 71.38)

Listen to the latest songs, only on JioSaavn.com