India: Ambuja net profit leaps 85% in 4Q16

LafargeHolcim-owned Ambuja Cement reported a 85.2 per cent rise in its consolidated net profit to INR2.057bn (US$30.7m) for the fourth quarter ended 30 December 2016 from INR1.11bn in 4Q15.

Ambuja’s total income from operation almost doubled to INR49.362bn in the Oct-Dec quarter from INR23.843bn in the year-ago period, Ambuja said in a BSE filing.

"During the year, Holcim India Pvt Ltd has been amalgamated with the company from the effective date August 12, 2016 pursuant to scheme of amalgamation," the company said.

Its total expenses were up INR46.733bn as against INR22.187bn.

Ambuja’s full-year net profit rose by 38.8 per cent to INR11.211bn from INR8.0788bn in 2015. In addition, its total income from operations more than doubled from INR94.813bn to INR203.438bn.