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Ambuja Cements' stock gained more than 4% today

  • India Infoline News Service |
  • 14 Nov, 2022 |
  • 3:04 PM
On the BSE on Monday during the intra-day, Ambuja Cements shares rose 5% in a range-bound market, reaching an all-time high of Rs 586. On September 20, 2022, the shares of the Adani Group Company reached a high of Rs 585.45. This record has since been surpassed. S&P BSE Sensex was down 0.01 percent at 61,786 points at 2:19 PM, in contrast, and was down.
The stock has increased 17% in the last month due to management's anticipation that the recent drop in energy prices and the subsequent uptick in demand following the monsoon will boost the company in the upcoming quarters. Comparatively, throughout that time the benchmark index rose by 7%.

Ambuja Cements recorded a 94% decrease in its consolidated net profit for the July-September quarter (Q3CY22), to Rs 51.3 crore, as compared to Rs 891 crore reported the previous year. Additionally, the company's profit decreased 94% on a sequential basis from Rs 865 crore gained in the April-June period.

In comparison to the same quarter last year, the consolidated revenue for the quarter was 7.5% higher at Rs 7,143 crore than it was at Rs 6,647 crore. The revenue is down 11% from the June quarter of the current fiscal year. In the June quarter, the company generated revenue of Rs. 8,033 crores. EBITDA/ton fell to Rs 432 in Q2, down 62% YoY and 53% QoQ as a result of severe margin pressures in the cement industry brought on by the sharp increase in global energy prices.

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