Ambuja Cement today reported a 38.03 per cent increase in consolidated net profit to Rs 396.96 crore for the first quarter ended March 31, driven by improvement in the sales volume and favourable pricing.
Part of the Swiss cement giant LafargeHolcim, the company had clocked a net profit of Rs 287.57 crore in January-March period a year-ago, Ambuja said in a BSE filing.
Its sales during the period under review was up 7.50 per cent to Rs 6,449.02 crore as against Rs 5,998.86 crore in the corresponding quarter of the last year.
Ambuja Cement's total expense was up 6.20 per cent at Rs 6,096.16 crore as against Rs 5,739.81 crore.
"Improving sales volume and combined with favourable pricing contributed to a positive quarter despite rising costs. With demonetisation largely behind us we are well placed to serve both small and large customers," said Ambuja Cement MD & CEO Ajay Kapur.
Over the outlook, the company said that demand of cement would grow and would be "positive" due to the government's "continued focus on infrastructure development, affordable housing, smart cities, concrete roads and highways coupled with remonetisation."
Shares of Ambuja Cement today settled at Rs 245.95 on BSE, down 1.40 per cent from previous close.
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