Shares of Ambuja Cements Ltd on Tuesday erased all its early gains and closed nearly 3 per cent lower.
The company's scrip which gained 4.46 per cent to Rs 180 during the day on the BSE, later eroded the gains and closed at Rs 168, lower by 2.50 per cent.
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On the National Stock Exchange (NSE), it fell 2.84 per cent to close at Rs 167.40.
During the day, it had gained 3.88 per cent to Rs 179.
Ambuja Cements Ltd on Monday reported a 6.80 per cent rise in its consolidated net profit at Rs 742.59 crore for the first quarter ended March 31.
The company, which follows the January-December financial year, had clocked a net profit of Rs 695.30 crore in the corresponding period a year ago, Ambuja Cements said in a BSE filing.
Its revenue from operations was down 8.50 per cent to Rs 6,249.66 crore during the March 2020 quarter, compared with Rs 6,830.70 crore in the corresponding quarter of the previous financial year, impacted by de-growth in volumes due to the nationwide lockdown.
Ambuja Cements' total expenses in the January-March quarter this year was down 2.44 per cent at Rs 5,388.38 crore, compared with Rs 6,151.66 crore.
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