Ambuja Cements Q4FY24 results: Net profit surges 64% to Rs 1,055 crore | Company Results

Ambuja Cements Limited on May 1, 2024 reported a 63.60 per cent year-on-year rise in consolidated net profit at Rs 1,055.16 crore for the quarter that ended on March 31 in financial year 2023-24 (Q4FY24). The company had reported a net profit of Rs 644.94 crore during the same period last year (Q4FY23).

Sequentially, the net profit went up 28.20 per cent from Rs 823.05 crore in the last quarter.

The company’s revenue from operations increased by 11.64 per cent to Rs 8,893.99 crore in Q4, compared to Rs 7,965.98 crore reported in the year before. On a quarter-on-quarter basis, the revenue for operations stood at Rs 8,128.80 crore.

The company reported a total income of Rs 9,127.45 crore for Q4FY24. This was an increase of 10.62 per cent from Rs 8,250.45 crore reported during the year-ago period. 

On a quarter-on-quarter basis, the total income was up 9.67 per cent. It was Rs 8,322.45 crore in Q3FY24.

For the entire financial year, the company reported a rise in net profit by 38.45 per cent at Rs 3,576.79 crore, compared to Rs 2,583.40 crore reported at the end of FY23.

The company’s revenue from operations for FY24 decreased by 14.83 per cent at Rs 33,159.64 crore, compared to Rs 38,937.03 crore in the previous financial year. 

The company’s total income decreased by 13.48 per cent at Rs 34,326.04 crore in FY24, compared to Rs 39,674.74 crore reported in FY23.

Ajay Kapur, Whole-Time Director and chief executive officer (CEO) of Ambuja Cements, said, “Our impressive financial performance during the year is a testament to the resilience and adaptability of our business model. It mirrors the Indian economy, which has emerged as a bright spot amidst a challenging global economic scenario. We remain steadfast in delivering long-term value and sustainable growth as we soar towards doubling capacities, investment in efficiency improvement, green power, assured supplies of raw-material and fuel.  We continue to play a vital role in the nation’s growth story…”

Ambuja Cements Ltd, on Wednesday, announced an interim dividend of Rs 2 per share.

On Tuesday, the stock price of the company closed at Rs 618.95.

First Published: May 01 2024 | 2:11 PM IST