Ambuja Cement profit up 6.57 per cent to Rs 520 crore

Apr 24 2014, 22:00 IST
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Ambuja Cements today reported 6.57 per cent increase in standalone net profit of Rs 520 crore. Reuters Ambuja Cements today reported 6.57 per cent increase in standalone net profit of Rs 520 crore. Reuters
SummaryAmbuja Cements had clocked Rs 487.90 crore profit in the same quarter of last fiscal.

Ambuja Cements today reported 6.57 per cent increase in standalone net profit of Rs 520 crore during the January-March quarter mainly on account of higher income.

It had clocked Rs 487.90 crore profit in the same quarter of last fiscal, Ambuja said in a statement.

During the quarter under review, total income of the company rose to 2,649.34 crore, as against 2554.83 crore in the same quarter of 2012-13.

The sale of cement and clinker sales by volume increased by 1.7 per cent to 6.06 million tonnes during the quarter.

Expenses rose marginally to Rs 2,181.91 crore during the quarter as compared to Rs 2124.16 crore.

The cement maker also made a change in the top deck announcing Ajay Kapur as the new Managing Director replacing Onne Vander Weijde.

Kapur who was appointed CEO of the company on May 1, 2012 and was subsequently promoted to the post of Deputy MD of the company effective August 1, 2013. He will assume charge on April 25. After nine years in India, Weijde is going back to Holcim.

Ambuja Cements said that during the quarter "High Court of Gujarat and Delhi have approved the scheme of amalgamation of Holcim (India) Pvt Ltd with the company".

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