Ambuja Cements reports 2Q sales rise

Ambuja Cements reported an 11.7 per cent increase in net sale in the 2Q17 as cement volumes and price realisations improved.

The pan-Indian cement producer said net sales reached INR28.23bn versus INR25.28bn in the 2Q16. Cement volumes increased to 6.05Mt in the quarter under review compared to 5.76Mt in the April-June 2016 period. For the first six months of 2017, volumes rose to 12.07Mt,  up 3.9 per cent YoY.

Operating EBITDA for the quarter stood at INR6.51bn versus INR5.98bn in the corresponding period of last year. Net profit of INR3.922bn in the June quarter declined 13 per cent YoY.

“Our investment in concrete laboratories, technical services and new products is paying off,” said Ajay Kapur, MD & CEO, Ambuja Cements. “We are improving sales performance and EDITDA, despite rising manufacturing costs, especially power and fuel on back of rising petcoke prices,” he said.