Reuters logo
Ambuja net profit up 6.6 percent, expects recovery after elections
April 25, 2014 / 4:28 AM / 3 years ago

Ambuja net profit up 6.6 percent, expects recovery after elections

Workers clean a cement dumper at the construction site of a residential building in Kolkata January 29, 2013. REUTERS/Rupak De Chowdhuri/Files

NEW DELHI (Reuters) - Cement maker Ambuja Cements Ltd (ABUJ.NS) reported a forecast-beating 6.6 percent rise in quarterly profit on higher sales, and expects a revival in the economy after ongoing elections ending on May 16.

“Although macroeconomic condition remains challenging, construction activity is expected to pick up pace after elections,” the company, India’s third-largest cement maker, said in a statement late on Thursday.

Ambuja, controlled by Switzerland’s Holcim Ltd HOLN.VX, the world’s second-largest cement producer, reported a net profit of 5.20 billion rupees ($85.2 million) for the first quarter ended March 31, compared with 4.88 billion rupees a year earlier.

Analysts on average had expected the company to post a profit of 3.62 billion rupees according to Thomson Reuters I/B/E/S.

Net sales for the quarter rose about 4 percent to 26.4 billion rupees from a year earlier. ($1 = 61.0550 rupees)

Reporting by Aditi Shah; Editing by Anand Basu

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below