Ambuja Cement Q2 result: Standalone net profit jumps 363% YoY to Rs 643 cr

Ambuja Cement reported a jump of 363.49 per cent in its standalone net profit in the quarter ended September 30 to Rs 643.84 crore, as compared to Rs 138.91 crore in the same quarter last year. As compared to Rs 644,88 crore in Q1FY24, the net profit was down 0.16 per cent.

The revenue from operations for Q2FY24 came in at Rs 3,969.79 crore, compared to Rs 3,675.61 crore year-on-year (Y-o-Y), registering a rise of 8 per cent. On a quarter-on-quarter (q-o-q) basis, the revenue for operations was down 16.06 per cent. It stood at Rs 4,729.71 crore in Q1FY24.

The total income for Q2FY24 came in at Rs 4,347.92 crore, compared to Rs 3,715.07 crore y-o-y, registering a rise of 17.03 per cent. On a q-o-q basis, the total income was down 11.61 per cent. It was Rs 4,919.18 crore in Q1FY24.

Ajay Kapur, whole-time director and chief executive officer of Ambuja Cements said, "Continuing our transformation journey, we are pleased to report a strong performance (standalone) in the second quarter of FY24, with a 8 per cent increase in revenue, 147 per cent increase in Ebitda at Rs 773 crore and 364 per cent increase in PAT at Rs 644 crore, compared to the previous year same quarter. Along with strong demand for our premium cement products, our business performance improved due to operational excellence, supply chain management and sales & marketing excellence."

In a press release, the company stated that its clinker and cement sales volume increased by 2.3 per cent y-o-y at 13.1 million tonnes. It stated that its kiln fuel cost reduced by 26 per cent and is expected to further come down through mix and source optimisation.

At 2:45 pm, the Ambuja Cement stock was trading at Rs 410.65.