Ambuja Cements drops as Q1 operating EBITDA drops

Ambuja Cements lost 2.68% to Rs 239.35 at 10:30 IST on BSE as consolidated operating earnings before interest, taxation, depreciation and amortization dropped 9.71% to Rs 809 crore in Q1 March 2017 over Q1 March 2016.

The result was announced after market hours on Friday, 28 April 2017. Domestic stock markets remained closed on Monday, 1 May 2017, for a local holiday.

Meanwhile, the S&P BSE Sensex was up 92.84 points or 0.31% at 30,011.24.

On the BSE, 1.74 lakh shares were traded on the counter so far as against the average daily volumes of 1.32 lakh shares in the past one quarter. The stock had hit a high of Rs 244.80 and a low of Rs 238.20 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.

Ambuja Cements' consolidated net profit rose 38.04% to Rs 396.96 crore on 6.83% growth in net sales to Rs 5631.90 crore in Q1 March 2017 over Q1 March 2016.

Consolidated cement sales volumes rose 3.27% to 12.62 million tonnes in Q1 March 2017 over Q1 March 2016.

Ambuja Cements' MD and CEO Ajay Kapur said that improving sales volumes, combined with favourable pricing, contributed to a positive quarter despite rising costs. Following demonetisation, the company is well placed to serve both small and large customers.

In its outlook, the company said that medium to long term outlook for cement demand remains positive due to the governments continued focus on infrastructure development, affordable housing, smart cities, concrete roads and highways coupled with remonetisation.

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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