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| Ambuja Cements net up 20.5% |
| BS Reporter / Mumbai Jul 23, 2010, 01:21 IST |
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Ambuja Cements, part of the Swiss giant Holcim, has posted a rise of 20.5 per cent in its net profit for the quarter ended June 30 at Rs 391 crore compared with Rs 325 crore in the previous corresponding quarter. The company's net sales during the quarter rose 10.8 per cent to Rs 2,048 crore from Rs 1,847 crore last year.
Contrary to the poor performance of its sister concern ACC, Ambuja sold 11 per cent more cement during the quarter. The company despatched 5.34 million tonnes of building material during the period under review against 4.82 million tonne last year.
Domestic sales volumes increased by 12.6 per cent.
“The east and north regions remained fairly robust, while demand softened to some extent in the south and west. Export markets remained sluggish,” said the company in a statement.
In its outlook, the company said cement demand growth began to slow in June, and was expected to remain subdued through the monsoon season. “By the third quarter, activity should pick up again, and the medium term demand outlook remains positive,” said the company in a statement.
On the Bombay Stock Exchange, the company's shares closed strong on Thursday at Rs 114.50, up 2.19 per cent.
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