Ambuja Cements on Tuesday reported a 1.5 per cent rise in net profit to ₹502.4 crore for the quarter ended March 2023. This is against a net profit of ₹495 crore in the corresponding quarter last fiscal.
Its consolidated revenue from operations rose by 8.4 per cent to ₹4,256.3 crore during the quarter under review compared to ₹3,952 crore a year ago. On the operating front, EBITDA (earnings before interest, taxes, depreciation and amortization) declined marginally to ₹788.3 crore and margins down to 18.5 percent from 20.1 per cent in March 2022 quarter.
The Board has recommended Dividend of ₹2.50 per equity share of face value of ₹2 each fully paid up for the Financial Year 2022-23, said Ambuja Cements in its filing. The final dividend, as recommended by the board of directors, if approved at the AGM will be paid on or after July 25, 2023.
The record date for the payment of the final dividend is Friday July 7, 2023.
“We are pleased to report another strong performance of Ambuja Cement which has been driven by our strategic initiatives on business excellence, operational efficiencies and synergies. Our focus on operational excellence and cost optimisation measures has yielded improved profitability. We have been able to maintain our growth trajectory and further strengthen our position in the market. With the rise in construction activities across our markets, we see the continuation of the elevated demand and strong volumes in the coming quarters as well,” said Ajay Kapur, Whole Time Director & CEO, Ambuja Cements
On Tuesday, the company’s scrip ended 0.48 per cent down at ₹394.40 on BSE.
