The cement maker reported a net profit of Rs 500 crore as against the survey expectation of Rs 301 crore for the three-month period. In the quarter ended September 2023, its net profit stood at Rs 633 million, which implies a decrease of 22% in the quarter under review.
#2QConCNBCTV18 | #AmbujaCement information #T2Resultsrevenue of Rs 4,213.2 cr vs CNBC-TV18 survey of Rs 3,820 cr pic.twitter.com/gr862EMvYe
— CNBC-TV18 (@CNBCTV18Live) October 28, 2024
Ambuja Cements’ revenue rose 6% to Rs 4,213 crore in Q2FY25 from Rs 3,969 crore in the previous fiscal. Second-quarter revenue is 10% higher than the CNBC-TV18 survey projection of Rs 3,820 crore. The company’s EBITDA, short for earnings before interest, taxes, depreciation and amortization of Rs 680 crore, was also more than 50% higher than estimates. In Q2FY24, the company reported an EBITDA of Rs 773 crore.
The cement maker’s margin also decreased by 340 basis points from 19.5% in the quarter ended September 2023 to 16.1% in the September 2024 quarter. The CNBC-Tv18 survey had projected the margin to be 15 .2%.
Reflecting on the outlook, the company said that with the recent acquisition of Orient Cement and projects in advanced stage of completion, its operational capacity will cross 100+ MTPA by this fiscal year.
It added that its net worth is at an all-time high of Rs 59,916 crore and its cash and cash equivalent at Rs 10,135 crore.
The cement maker added 70 million tonnes of new secured limestone reserves in Q2FY25, taking total reserves to 8.2 million tonnes at a premium of <3%. In addition to this, OCL has significant reserves of high quality limestone adding to the existing resources. This will help achieve a target capacity of 140 MTPA by FY28, the company said in its filing.
After the second quarter result, Ambuja Cements shares traded 3.71% higher at ₹573.90 on BSE.
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