Gautam Adani Group company Ambuja Cements Limited has released the results for the quarter ending September 2023. Profit increased to Rs 987 crore in the second quarter as compared to Rs 51 crore in the September 2022 quarter.
A huge increase of 1835% has been recorded in the net profit of the company in this quarter. Ambuja Cements’ revenue rose 4% to Rs 7424 crore in the second quarter from Rs 7131 crore in the same period last fiscal.
Ambuja Cements shares were trading below Rs 410 on BSE, down 4% from its previous close of Rs 424.50 amid quarterly results. The market cap of the company has fallen to Rs 81,700 crore.
Ambuja Cements Limited
Ambuja Cements Limited, part of Adani Group, is one of the leading cement companies of India. Ambuja, along with its subsidiary ACC Limited, has a capacity of 67.5 million tonnes with 17 cement plants and 14 cement grinding units across the country.
Rise in Ebitda
There has also been a jump in Ebitda in the second quarter of this financial year and it has increased by 298% to Rs 1302 crore, which was Rs 327 crore in the same period of the last financial year. Apart from this, earnings per share increased to Rs 3.74 in the previous quarter as compared to Rs 0.47 in the September 2022 quarter.