Ambuja sees 188% 4Q net profit surge

Ambuja Cements' sales rose 6.7 per cent to 13.63Mt in the quarter ended 31 December 2018 from 12.78Mt in 4Q17.

This resulted in a total income of INR68.552bn (US$959.7m) in the October-December 2018 quarter, up 9.3 per cent YoY, while consolidated net profit surged 188 per cent to INR13.779bn.

In its outlook LafargeHolcim-owned Ambuja Cements said the higher investment in the road network and housing sector, announced in India’s interim Budget 2019 will help boost economic development in rural areas. This is expected to have a positive effect on cement demand.