Ambuja Cements Stock Rises 3% After Earnings

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.