May 03, 2013, 02.39 PM | Source: Moneycontrol.com
Ambuja Cements' first quarter (January-March) net profit rose higher-than-expected 56.4 percent year-on-year to Rs 488 crore due to tax writeback and other income.
However, the company disappointed the street with its operational performance.
Net sales 3.3 percent declined to Rs 2,545 crore from Rs 2,631 crore Y-o-Y due to fall in volumes in March quarter.
Volumes dropped 4 percent Y-o-Y to 5.8 mt.
Analysts on an average had expected cement company to report net profit at Rs 380 crore on net sales of Rs 2,664 crore.
Meanwhile, other income jumped 60.75 percent to Rs 149.5 crore Y-o-Y.
Ambuja Cements reported a tax writeback of Rs 117 crore during the quarter.
Operating profit margin slipped 710 basis points year-on-year to 21.3 percent.
At 14:12 hours IST, the stock was quoting at Rs 187.05, down 1.55 percent amid high volumes on Bombay Stock Exchange.
Watch: SkillTree Workplace Excellence 2015
This week, SkillTree Workplace Excellence 2015 sho
Ambuja Cements' FY15 results on February 10, 2016
Ambuja Cements Ltd has informed BSE that a meeting
Ambuja Cements may touch Rs 225-230: Amit Gupta
Amit Gupta of ICICIdirect feels that Ambuja Cement
Buy Shree Cement; target of Rs 11300: ICICIDirect
ICICIDirect is bullish on Shree Cement and has rec
Buy Shree Cement; target of Rs 12900: Emkay
Emkay is bullish on Shree Cement and has recommend
Positive on largecap pharma stocks, cement: Deven Choksey
Deven Choksey of KRChoksey Investment Managers has
Concerns over Birla Corp eq dilution for R-Infra cement deal
Analysts are concerned at the fund raising that Bi
JK Lakshmi Cement posts Q3 net loss of Rs 3.67 crore
Total income of the firm rose to Rs 664 crore in t