Ambuja Cements Stock Rises 3% After Earnings
By Rediff Money Desk, New Delhi Oct 28, 2024 19:04
Ambuja Cements Ltd.'s shares climbed 3% after reporting a consolidated net profit of Rs 472.89 crore for the September quarter. The firm's revenue also saw growth.
New Delhi, Oct 28 (PTI) Shares of Adani Group firm Ambuja Cements Ltd (ACL) on Monday advanced 3 per cent as the firm reported a consolidated net profit of Rs 472.89 crore for the September quarter.
The firms' stock climbed 2.91 per cent to settle at Rs 569.45 apiece on the BSE. Intra-day, it surged 5.21 per cent to Rs 582.20.
On the NSE, it went up by 3 per cent to Rs 569.40 per share.
The company had logged a profit of Rs 987.24 crore in July-September FY24, according to a regulatory filing by ACL.
Revenue from operations was Rs 7,516.11 crore during the September quarter. It was Rs 7,423.95 crore in the corresponding period last fiscal.
This is the "highest revenue in Q2 series in the last 5 years", which is driven by higher trade sales volume and premium products, ACL said in its earnings statement.
Financial results of the quarter are not comparable with the year-ago period due to the acquisition of several companies, including Gujarat-based Sanghi Industries, Hyderabad-based Penna Industries, and Tamil Nadu-based MY Home Industries, whose results are included in it. Besides, its subsidiary ACC acquired Asian Concretes and Cements Ltd.
The firms' stock climbed 2.91 per cent to settle at Rs 569.45 apiece on the BSE. Intra-day, it surged 5.21 per cent to Rs 582.20.
On the NSE, it went up by 3 per cent to Rs 569.40 per share.
The company had logged a profit of Rs 987.24 crore in July-September FY24, according to a regulatory filing by ACL.
Revenue from operations was Rs 7,516.11 crore during the September quarter. It was Rs 7,423.95 crore in the corresponding period last fiscal.
This is the "highest revenue in Q2 series in the last 5 years", which is driven by higher trade sales volume and premium products, ACL said in its earnings statement.
Financial results of the quarter are not comparable with the year-ago period due to the acquisition of several companies, including Gujarat-based Sanghi Industries, Hyderabad-based Penna Industries, and Tamil Nadu-based MY Home Industries, whose results are included in it. Besides, its subsidiary ACC acquired Asian Concretes and Cements Ltd.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 8.25 (+ 7.56)
- 69420086
- GTL Infrastructure
- 1.96 ( -1.01)
- 47792089
- Srestha Finvest
- 0.63 ( -4.55)
- 39336100
- YES Bank Ltd.
- 20.56 (+ 5.98)
- 31525072
- G G Engineering
- 2.06 ( -3.29)
- 29768305
MORE NEWS
Tata Power Acquires 40% Stake in Bhutan's...
Tata Power has acquired a 40% stake in Bhutan-based Khorlochhu Hydro Power Limited for...
Air India Suspends Cabin Crew Over Room-Sharing...
Air India has suspended 10 cabin crew members for allegedly instigating protests...
Prestige Group Buys Land in Bengaluru for...
Prestige Group acquires 17.45 acres in Bengaluru's Whitefield for Rs 462 crore to...