The company board has approved the merger of Dirk India Pvt Ltd a 100 percent subsidiary with the company, subject to necessary regulatory approvals.
Cement major Ambuja Cements reported 31.3 percent jump in its September quarter standalone net profit to Rs 234.6 crore aided by an improved margin and operating income.
The company had a net profit of Rs 178.6 crore in the same quarter last fiscal.
The company follows January-December as its financial year.
The standalone revenue was flat at Rs 2,626.1 crore against Rs 2,613.9 crore, year-on-year (YoY).
Earnings before interest, tax, depreciation and amortization (EBITDA) rose 22.8 percent at Rs 440 crore versus Rs 358.1 crore. The EBITDA margin was up 300 basis points at 16.7 percent against 13.7 percent.
The company board approved the merger of Dirk India, a 100 percent subsidiary, with itself, subject to necessary regulatory approvals.
Cement realisations grew 5 percent YoY, while freight & forwarding costs reduced YoY on account of network optimization, contract re-negotiation and logistics efficiencies.
Premium products grew 17 percent YoY and the company maintained its progress on fossil fuel substitution with alternative fuels and renewable energy, said Bimlendra Jha, Managing Director and CEO of Ambuja Cements.Shares of Ambuja Cements ended at Rs 207, up Rs 0.20, or 0.10 percent on the BSE.LIVE NOW... Video series on How to Double Your Monthly Income... where Rahul Shah, Ex-Swiss Investment Banker and one of India's leading experts on wealth building, reveals his secret strategies for the first time ever. Register here to watch it for FREE.