Cement major Ambuja Cement Ltd on Friday announced that the company has posted a growth of 23% in its net profit to Rs 404 crore for the quarter ended June 2007 compared to Rs 327 crore in the corresponding quarter last year.
Net sales for the quarter were up 11% from Rs 1,314 crore to Rs 1,464 crore last year. Operating margins of the company were also up 17% to Rs 594 crore for the period from Rs 509 crore last-year.
The company further announced that it is planning a capex of about Rs 3,500 crore over a period of next two-three years, for augmenting cement capacity by about 6 million tonne.
The company also expects its one million tonne cement grinding unit at Roorkee in Uttarakhand to be commissioned during the current quarter. It also expects its upgradation on the cement plant at Rabriyawas in Rajasthan to be commissioned during the current quarter resulting in an increased clinkering capacity at Rajasthan to 2 million tones annually from 1.5 million tonne at present.
In addition, captive power projects at the plants in Rabriyawas, Ropar, and Maratha, which will deliver in total 178 mw of capacity, are currently at various stages of completion, the company informed.
The Ambuja Cement stock was down 2.09% or Rs 2.90 to close at Rs 135.90 on the Bombay Stock Exchange on Friday.