Ambuja Cements on May 2 has announced standalone profit of Rs 502.4 crore for the quarter ended March FY23, a 1.6 percent growth over a year-ago period, supported by topline and other income. However, the profitability was impacted by weak operating performance and restructuring cost (Rs 80.71 crore).
The profit in March FY22 quarter was at Rs 494.4 crore.
Revenue on the standalone basis grew by 8.4 percent year-on-year to Rs 4,256.3 crore for the quarter with sales volumes increasing by 8 percent YoY to 8.1 million tonnes, the Adani Group company said in its filing to exchanges.
At the operating level, Ambuja has reported EBITDA (earnings before interest, tax, depreciation and amortisation) at Rs 788.3 crore for March FY23 quarter, declining 0.6 percent compared to corresponding period last fiscal, with margin falling 170 bps at 18.5 percent.
Numbers were lower-than-expectations. Profit was estimated at Rs 449 crore on revenue of Rs 4,185 crore for the quarter, and EBITDA was expected at Rs 745 crore with margin at 17.8 percent, as per average of estimates of analysts polled by CNBC-TV18.
Other income has grown more than five-fold to Rs 173.97 crore in Q4FY23, against Rs 32.06 crore recorded in same period last year.
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Meanwhile, Ambuja Cements has recommended final dividend of Rs 2.5 per share for the financial year 2022-23.
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