Ambuja reports 27% rise in standalone net profit

India’s Ambuja Cement has reported a 27.3 per cent YoY increase in standalone net profit for the quarter ended 30 June, rising to INR4.99bn (US$72.62m) from INR3.92bn. Net sales advanced 3.9 per cent to INR29.27bn, compared to INR28.17bn of the year-ago period.

"Ambuja is well positioned to benefit from the upsurge in rural demand and the encouraging external environment," said Ajay Kapur, managing director and CEO, Ambuja Cement.

However, the company has recorded a 5.1 per cent fall in consolidated net sales to INR69.17bn in the 1QFY18-19 period. Similarly, consolidated net profit declined 4.7 per cent to INR6.84bn.