The September quarter results of Ambuja Cements (CMP: Rs 208; Market Cap: Rs 41,232 crore) were in line with expectations. Revenues for India’s third largest cement manufacturer changed little from a year ago, but profitability was strong as operating margins expanded. Quarter result highlights Ambuja’s reported revenues of Rs 2,626 crore in Q3 CY19 were slightly higher compared to last year. Revenue growth was led by higher realisations as cement volumes shrank for the second successive quarter. Volumes declined 4 percent...
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