Ambuja Cement profit jumps, stock climbs 3 percent
Ambuja Cements reported a fourfold surge in quarterly earnings on Monday, driving its stock up 3 percent as investors responded to the strong performance. The Adani Group company generated a net profit of 2,302 crore rupees during the July through September period compared with 496 crore rupees in the same three months last year. Standalone profit after tax reached 1,387.55 crore rupees, a jump of 177 percent from 500.66 crore rupees a year earlier. Revenue from operations climbed 26 percent to 5,139.48 crore rupees versus 4,073.17 crore rupees. Cement sales volume expanded 20 percent to 16.60 million tonnes.
Shares opened at 567.35 rupees per share on the Bombay Stock Exchange and peaked at 582.70 rupees during the session. The building materials producer has gained 6.57 percent during the current calendar year, slightly trailing the Sensex benchmark’s 7.02 percent advance. Over the past 12 months, the stock declined 1.60 percent. The company delivered returns of 36 percent across two years, outpacing the Sensex’s 30 percent gain during that stretch. Five-year returns reached 118 percent compared with 108 percent for the broader index.
