Ambuja Cements posts 27 percent rise in second-quarter profit, beats expectations

(Reuters) - India's Ambuja Cements Ltd posted a 27 percent growth in second-quarter profit on Wednesday, beating market estimates, helped by higher cement sales and lower expenses.

Standalone profit rose to 4.99 billion rupees ($72.60 million) in the quarter ended June 30, from 3.92 billion rupees a year earlier, the Mumbai-based company said https://www.bseindia.com/xml-data/corpfiling/AttachLive/8ca32120-ca63-4eba-bb1f-47f190ffd2e4.pdf.

Analysts on average had expected a standalone profit of 3.10 billion rupees, according to estimates by Thomson Reuters I/B/E/S.

Cement sales volume rose to 6.37 million tonnes from 6.05 million tonnes a year earlier, said the company which is a unit of the world's largest cement maker, LafargeHolcim Ltd.

 

Total expenses decreased by 8 percent to 25.50 billion rupees.

($1 = 68.7350 Indian rupees)

(Reporting by Sharnya G in Bengaluru; Editing by Vyas Mohan)