Ambuja Cements Q1 net profit falls 14% to Rs 752 crore, sales up 15%

Cement maker Ambuja, which was recently acquired by the Adani group, along with ACC in a $10.5-billion deal, on Tuesday reported a 14.2 per cent drop in consolidated net profit to Rs 752 crore for the quarter ended June 30, 2022 versus the same period last year.

While the net profit reported by the company was ahead of Bloomberg consensus estimates, which was pegged at Rs 644 crore, sector analysts said the June quarter was impacted by a moderation in demand as well as elevated costs of power and pet coke.

Consolidated net sales rose 15.1 per cent to Rs 7,943 crore in the April-June period versus the same period last year, while earnings before interest tax depreciation and amortisation