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Business EconomyPosted at: Apr 29 2016 2:37PM


Ambuja Cements Q1 net down by 4.39 percent

Mumbai, Apr 29 (UNI) Cement Major, Ambuja Cements Ltd has reporreted a drop of 4.39 percent in its net profit at Rs 303.76 crore for the quarter ended March 31, 2016 as compared to Rs 317.69 crore for the quarter ended March 31, 2015.
However.total Income has increased from Rs 2,558.14 crore for the quarter ended March 31, 2015 to Rs. 2,580.85 crore for the quarter ended March 31, 2016.
The company said the cement demand registered double-digit growth during the current quarter. Considering favourable announcements in the Budget and other initiative by government for infrastructure, housing, smart cities and concrete roads, the medium and long term outlook for cement demand remains positive. The company will continue to focus on improving operational efficiencies, it said in a BSE filing.
During the quarter, energy cost was lower by 19 per cent due to fuel prices and increased usage of pet coke and alternate fuel. Pet coke consumption in kiln for the quarter increased from 40 to 60 per cent against the corresponding quarter of the previous year.
The distribution cost was marginally lower this quarter due to cost optimisation initiatives undertaken by the company as well as low packing cost, despite increased railway freight, it said.
In spite of lower production and distribution cost, operating EBITDA was down by 11.8 per cent, mainly due to lower prices, additional provision towards contribution to District Mineral Foundation and increased promotion expenses.
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