Ambuja Cements has reported a net profit of Rs 532.29 crore in Q4 of FY24, against Rs 502.40 crore it reported in the same period a year ago, an increase of 6% on year.
The company reported a consolidated net profit of Rs 1,525.78 crore, a jump of 100% on year in Q4 of FY24, it posted a net profit of Rs 763.30 crore in the same quarter of the previous year.
The company has clocked a revenue of Rs 4,780.32 crore in the last quarter of FY24, a growth of 12.3% on year, compared to Rs 4,256.31 crore it reported in Q4 of FY23.
The company has declared a dividend of Rs 2 per equity share. “The board has recommended a dividend of Rs. 2 (Rupees. two only ) per Equity share of the face value of Rs.2 each fully paid-up for the financial year 2023-24, subject to the approval of shareholders of the company,” said the company in an exchange filling.
“Our impressive financial performance during the year is a testament to the resilience and adaptability of our business model. It mirrors the Indian economy, which has emerged as a bright spot amidst a challenging global economic scenario. We remain steadfast in delivering long-term value and sustainable growth as we soar towards doubling capacities, investment in efficiency improvement, green power, and assured supplies of raw materials and fuel. We continue to play a vital role in the nation’s growth story. Our growth blueprint implemented in the previous year towards capacity-building through organic and inorganic ways, operational efficiency, and decarbonisation measures are yielding excellent results. “Cost optimisation remains a core part of our strategy,” Ajay Kapur, Whole Time Director & CEO of Ambuja Cements, said.
Adani Group’s flagship cement company’s EBITDA PMT has grown by Rs 149, an increase of 17% on year. Also, its margin expanded by 3.5 percentage points. A total of Rs 1,945 crore cash flows were generated from the operations in Q4 of FY24 and Rs. 5,646 crore in the whole year.