Saturday, 29 April 2017

Ambuja Cements net profit jumps 357%

Ambuja Cements Ltd, a part of the global conglomerate LafargeHolcim, on Friday reported a 357 percent increase in its standalone net profit to Rs 247 crore for the quarter ended March 31, 2017, as compared to Rs 54 crore in the corresponding period of the previous financial year. The jump in net profit was attributed to a sharp reduction in depreciation and amortization expense along tax expenditure. The company posted net sales of Rs 2,533 crore, up by 5.3 percent in the quarter under review from Rs 2,406 crore in the year-ago period.

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