Ambuja's Q4 net up 60% due to lower taxes and energy costs

Hit by demonetisation, the company sold 9% less cement; net sales dipped 7%

Ambuja Cements, part of cement giant LafargeHolcim, has posted a rise of 60 per cent in its net profit for the quarter ended December 2016, to Rs 160 crore from Rs 110 crore in the corresponding previous quarter. Higher profitability was on the back of lower tax charges and lower operating costs due to significant reduction in energy costs of 9 per cent. Ambuja increased usage of pet coke during the October-December quarter to 65 per cent against 50 per cent in the previous year.

The company could not eschew the impact of demonetisation. Its net sales dipped 6.75 per cent