Ambuja Cements gains after Q4 results

Ambuja Cements rose 1.48% to Rs 158.10 at 9:34 IST on BSE after net profit rose 49.31% to Rs 316.50 crore on 5.19% decline in total income to Rs 2297.62 crore in Q4 December 2013 over Q4 December 2012.

The result was announced after trading hours on Thursday, 6 February 2014.

Meanwhile, the BSE Sensex was up 105.49 points, or 0.52%, to 20,416.23.

On BSE, so far 34,000 shares were traded in the counter, compared with an average volume of 97,810 shares in the past one quarter.

The stock hit a high of Rs 158.50 and a low of Rs 155 so far during the day. The stock hit a 52-week high of Rs 211.90 on 18 July 2013. The stock hit a 52-week low of Rs 147.55 on 28 August 2013.

The stock had underperformed the market over the past one month till 6 February 2014, falling 11.70% compared with the Sensex's 2.29% fall. The scrip had underperformed the market in past one quarter, falling 13.73% as against Sensex's 2.80% decline.

The large-cap company has an equity capital of Rs 309.17 crore. Face value per share is Rs 2.

Ambuja Cements' net profit fell 0.19% to Rs 1294.57 crore on 5.21% decline in total income to Rs 9553.97 crore in the year ended December 2013 (FY2013) over the year ended December 2012 (FY2012). The net profit was almost flat in FY2013 over FY2012 mainly due to exceptional item representing additional depreciation charge of Rs. 279 crore in the year ended December 2012 and write back of income tax provision of Rs. 241 crores in the year ended December 2013.

Cement and clinker sales volume fell 1.8% to 21.60 million tonnes in the year ended December 2013 over the year ended December 2012.

On a consolidated basis, the company's net profit fell 1.13% to Rs 1278.57 crore on 5.53% decline in total income to Rs 9583.05 crore in FY2013 over FY2012.

The company said that the outlook continuous to remain challenging due to difficult macro-economic condition and resultant subdued cement demand. The company said it has been able to keep its production cost flat year-on-year and would continue to work on improving operational efficiencies, cost optimisation and continued focus on customer and commercial excellence.

Ambuja Cements also said that the board of directors of the company at its meeting held on 6 February 2014, inter alia, have approved the stepping down of Mr. Paul Hugentobler Vice-Chairman from the board of directors of the company with effect from 7 February 2014 consequent upon his retirement from the services of Holcim, Switzerland.

Ambuja Cements is engaged in manufacturing and marketing cement and clinker for both domestic and exports markets.

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