Ambuja Cement's Q1 FY24 Net Profit Declines by 38% YoY, Revenue Up 9%

2 Aug 2023 , 12:17 PM

Ambuja Cement reports a net profit of Rs 645 crore for Q1 FY24, a 38 % decline from the previous year due to a higher base effect in the corresponding quarter.

The revenue for the same quarter stands at Rs 8,713 crore, showing a 9 % YoY increase. Consolidated EBITDA in Q1 reaches Rs 1,930 crore, with margins improving by 6.7 % to 22.2 % compared to the previous year.

Synergies with Adani Group companies are reducing input costs, leading to EBITDA growth, according to Ajay Kapur, the whole-time director and CEO at Ambuja Cement.

Ambuja Cement, India’s second-largest cement manufacturer by market capitalization, aims to improve efficiency, decarbonization, and create new opportunities in the cement industry through group synergies and capex.

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