Ambuja Cements Q1 net drops 38.8 percent

Ambuja Cements on Wednesday reported 38.8 percent drop in net profit for the January-March quarter of 2015.

In a filing in the Bombay Stock Exchange (BSE), it said the net profit of the company stood at Rs.318 crore for the January-March quarter, down from Rs.520 crore posted during the corresponding quarter in 2014.

The Holcim Group firm registered a drop of 8.1 percent in its turnover at Rs.2,425 crore in the March quarter, compared with Rs.2,638 crore during the corresponding period last year.

"The quarter witnessed a muted cement demand. The net sales turnover was lower by 8.1 percent mainly on account of negative growth in volume by 9 percent but an improved net cement realisation for the quarter," the company said.