Ambuja Cements rose 0.17% to Rs 241 at 15:23 IST on BSE after consolidated net profit rose 40.39% to Rs 216.11 crore on 114.32% growth in total income from operations to Rs 4533.59 crore in Q3 September 2016 over Q3 September 2015.
The result was announced during market hours today, 3 November 2016.Meanwhile, the S&P BSE Sensex was down 119.93 points or 0.44% at 27,407.29.
On BSE, so far 6.89 lakh shares were traded in the counter as against average daily volume of 1.60 lakh shares in the past one quarter. The stock was volatile. The stock rose as much as 1.78% at the day's high of Rs 244.90 so far during the day. The stock lost as much as 2.09% at the day's low of Rs 235.55 so far during the day. The stock had hit a 52-week high of Rs 282 on 31 August 2016. The stock had hit a 52-week low of Rs 185 on 29 February 2016. The stock had underperformed the market over the past one month till 2 November 2016, sliding 4.83% compared with 1.22% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 8.85% as against Sensex's 1.62% fall.
The company's bottom line during the quarter was boosted by surge in non-operational income. Other income jumped 98.87% to Rs 144.86 crore in Q3 September 2016 over Q3 September 2015.
The current quarter (Q3 September 2016) results include results of ACC and are not comparable with results of corresponding previous quarter. Ambuja had recently acquired 50.05% shareholding in ACC pursuant to a scheme of amalgamation.
In its outlook, Ambuja Cements said the medium to long term outlook for cement demand remains positive considering good monsoon this year and government's focus on housing and infrastructure development. Ambuja Cements said it continues to focus on improving operational efficiencies.
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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