Ambuja Cements Achieves Record-Breaking Revenue Growth with Strategic Acquisitions
Ambuja Cements Ltd, a part of the Adani Group, reported a consolidated net profit of Rs 969.66 crore for the June quarter. The company achieved its highest-ever cement sales volume and revenue, reaching 18.4 million tonnes and crossing the Rs 10,000-crore mark, respectively. This growth is attributed to strategic acquisitions, including Penna Cement and Orient Cements.
- Country:
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Ambuja Cements Ltd, an Adani Group firm, reported a significant rise in net profit for the June quarter, reaching Rs 969.66 crore. This marks a substantial increase from the Rs 783.18 crore reported in the same period last year, driven by aggressive acquisitions to boost capacity.
The company's cement sales volume hit an all-time high of 18.4 million tonnes, and quarterly revenue surpassed the Rs 10,000-crore milestone. Notable acquisitions like Hyderabad's Penna Cement Industries Ltd and Orient Cements Ltd have significantly contributed to this growth.
Whole Time Director & CEO Vinod Bahety emphasized the company's transformation, highlighting a focus on value and sustainability, facilitated by optimizing business operations and rejuvenating supply chains. However, shares of Ambuja Cements saw a slight dip, closing at Rs 590.35, down 4.52% from the previous close.
(With inputs from agencies.)
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