May 4, 2018 / 9:45 AM / 19 days ago

Ambuja Cements Q1 profit rises 10 percent, misses estimates

(Reuters) - India’s Ambuja Cements Ltd, part of global conglomerate LafargeHolcim Ltd, posted a 10.2 percent rise in its first-quarter profit, underpinned by higher cement sales volumes.

Workers unload cement bags from a truck near the construction site of residential buildings in New Delhi, March 10, 2016. REUTERS/Anindito Mukherjee/Files

Standalone net profit rose to 2.72 billion rupees ($40.68 million) in the quarter ended March 31, from 2.47 billion rupees a year earlier, Ambuja said on Friday.

Analysts on average expected the company to post a profit of 2.97 billion rupees, according to Thomson Reuters data.

Revenue from operations fell 2.1 percent to 28.63 billion rupees.

Cement sales volume were 3.3 percent higher for the quarter.

($1 = 66.8650 Indian rupees)

Reporting by Tanvi Mehta in Bengaluru

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