Ambuja Cements builds gains after good Q2 result

Ambuja Cements rose 1.68% to Rs 272.30 at 09:25 IST on BSE after consolidated net profit rose 11.86% to Rs 718.24 crore on 15.19% increase in total income to Rs 6383.65 crore in Q2 June 2017 over Q2 June 2016.

The result was announced after market hours yesterday, 24 July 2017.

Meanwhile, the S&P BSE Sensex was up 32.61 points or 0.1% at 32,278.48.

On the BSE, 82,000 shares were traded on the counter so far as against the average daily volumes of 3.13 lakh shares in the past one quarter. The stock had hit a high of Rs 275 and a low of Rs 271 so far during the day. The stock had hit a 52-week high of Rs 282 on 31 August 2016 and a 52-week low of Rs 191 on 22 November 2016.

The large-cap company has equity capital of Rs 397.13 crore. Face value per share is Rs 2.

Consolidated operating earnings before interest, taxation, depreciation and amortization (EBITDA) rose 20.79% to Rs 1290 crore in Q2 June 2017 over Q2 June 2016.

Consolidated cement sales volumes rose 7.58% to 12.78 million tonnes in Q2 June 2017 over Q2 June 2016.

In its outlook, Ambuja Cements said that the Government's focus on infrastructure, backed by a good monsoon, should help in spurring economic growth in the second half of the year. The company said it was well prepared for the implementation of the new Goods and Services Tax (GST) with effect from 1 July 2017. The resulting simplification of the tax structure will make it easier to do business and benefit the overall economy in the long run.

Ambuja Cements is engaged in manufacturing and marketing cement and clinker for both domestic and exports. The company sells cement under the Ambuja Cement brand.

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