Ahmedabad (Gujarat) [India], January 29 (ANI): Ambuja Cements has reported on Wednesday that its profit after tax (net profit) grew more than double year-on-year in the just-concluded October-December quarter.
The net profit during the quarter was Rs 2,620 crore as against Rs 1,091 crore in the year ago quarter, the earnings data showed.
The Adani group company’s revenue from operations during the quarter were about 15 per cent higher at Rs 9,329 crore.
Ambuja Cements Limited, the cement and building materials company of the diversified Adani Group, today announced financial results for Q3 ended December 31, 2024, and nine months of 2024-25.
The company asserted that the “significant boost in efficiencies, enhanced market presence and cost leadership aligned with Group synergies” have been the growth drivers for the cement business.
Efficiency investments and digitisation initiatives have started to yield results, it asserted, adding that it remains committed to maintain its cost and market leadership in coming quarters.
“Our strategic acquisitions have significantly increased our capacity and market presence. This will be dove-tailed with our ongoing expansion projects, delivering exceptional value for our stakeholders and propelling us towards achieving over 104 MTPA capacity by Q4 2024-25 and 118 MTPA by 2025-26,” said Ajay Kapur, Whole Time Director & CEO of Ambuja Cements, through a company statement.
Further, explaining what it termed cost leadership, the Adani company said that increased use of low cost Imported Petcoke and efforts to reduce cost of domestic coal (e-auction coal, efficient logistics, group synergies) has helped to reduce kiln fuel cost. Besides, it claimed that logistics costs reduced by 5 per cent.
The company also gave an update that its acquired assets — Sanghi, Asian and Penna – are doing well. Penna plants operations getting stabilised and the Clinker capacity utilisation has gone up to 85 per cent.
On the outlook side, it said improved consumption demand in housing and infrastructure segments, and increased government spending are poised to reverse the tepid 1.5-2 per cent cement demand growth during H1 2024-25.
This demand is expected to grow by 4-5 per cent in 2024-25, further supported by the “pro-infra and housing Budget 2025”, it said.
Ambuja Cements said it is well-positioned to benefit from these trends. The anticipated rebound in demand, supported by government initiatives, is likely to enhance cement sector performance in the coming quarters.
Ambuja Cements Limited has a cement capacity to 89 MTPA with 22 integrated cement manufacturing plants and 21 cement grinding units across the country. (ANI)
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