Ambuja Cements Q1 FY24: Profit Declines Amidst Expansion, Strategic Acquisitions

Ambuja Cements Ltd, part of the Adani Group, reported a consolidated net profit of Rs 789.63 crore for the June 2024 quarter, down from Rs 1,135.46 crore a year ago. The company's revenue stood at Rs 8,311.48 crore. The results include recent acquisitions and ongoing expansions.

Ambuja Cements Ltd, a prominent firm within the Adani Group, announced a consolidated net profit of Rs 789.63 crore for the first quarter of FY24, which ended in June 2024. This marks a decline from the Rs 1,135.46 crore net profit reported in the corresponding period last year.

Revenue from operations for the company was reported at Rs 8,311.48 crore, compared to Rs 8,712.90 crore in the same quarter of the previous fiscal year. The financial results are inclusive of Sanghi, acquired in August of the previous year, and ACCPL (Asian Concretes and Cements Pvt Ltd).

Commenting on the results, Ajay Kapur, Whole Time Director & CEO, mentioned continued efforts towards cost reduction and future acquisitions, such as the Penna acquisition expected by Q2 FY25. The company’s expansions and infrastructure projects are progressing well, with plans for increased cement production capacity in the near future.