Ambuja Cement Jan-Mar net profit up 35.2% at Rs 695.30 crore

Ambuja Cement Ltd Tuesday reported 35.18 per cent increase in its consolidated net profit at Rs 695.30 crore for the first quarter ended March, 2019 led by volume growth.

The company, which follows January-December fiscal, had posted a consolidated net profit of Rs 514.34 crore in the January-March period a year ago, Ambuja Cement said in a regulatory filing.

The company's total income during the March quarter was at Rs 7,093.27 crore, up 8.36 per cent from Rs 6,545.91 crore reported in the corresponding quarter a year ago.

"The quarter ended March 2019 saw a steady growth in top line. On the market side, we have introduced various innovative products to deliver superior experience and to become a preferred partner for our customers," Ambuja Cement Managing Director and CEO Bimlendra Jha said.

Total expenses in the quarter under review rose 6.23 per cent to Rs 6,151.66 crore from Rs 5,790.43 crore a year ago.

Cement sales volume was up 2.41 per cent to 6.37 million tonne as against 6.22 million tonne last year.

"Cement volumes grew 2.4 per cent in quarter 1 of 2019, while net sales grew by 3 per cent year on year," the company said.

Premium products saw a double-digit sales growth in January-March 2019 over the previous quarter, it added.

On the outlook, Jha said: "Government's thrust and higher outlays on infrastructure and affordable housing apart from reduction in rates for under-construction flats should further accelerate construction activity and spur cement demand."