Ambuja Cement Q2 results: Profit soars 96% to Rs 1,161 cr

Mumbai: has reported a 96% jump in consolidated profit after tax at ₹1,161 crore for the April-June period of the current year 2021 as against a net profit of ₹592 crore in the same period last year.

For the six months ending June 2021, the company reported a net profit of ₹1,388 crore, up 63% year-on-year.

“This performance resulted from strong growth in sales of premium products and successful execution of efficiency improvement programs which has partly been impacted by rising energy and raw material costs,” said Neeraj Akhoury, CEO Ambuja Cements.

The company follows January to December as its financial year.

The company’s net sales during the quarter stood at ₹3,342 crore compared to ₹2,145 crore in the corresponding quarter of the previous year, resulting in a growth of 56%. The company’s premium products volume grew at 69% compared to the same period last year.

Ambuja’s earnings before interest, taxes, depreciation and amortisation were at ₹1,827 crore, up 63% and Ebitda margins were at 26.5%. Ambuja’s total operating cost was ₹2,411 crore.