Ambuja Cements Limited announced its financial results for the first quarter of 2018. The company reported Sales volume of cement of 6.22 million tonnes during the first quarter of 2018 as against 6.02 million tonnes during the first quarter of 2017, up by 3.32%.
The cement company reported net sales of Rs 2,763 crore for the first quarter of 2018, up by 9.21% as against Rs 2,530 crore in the first quarter of 2017.
Operating EBITDA of the company stood at Rs 507 crore during the first quarter of 2018 compared against Rs 394 crore during the first quarter of 2017.
Net Profit after Tax of Ambuja Cements surged and stood at Rs 272 crore for the first quarter of 2018 as against Rs 247 crore for the first quarter of 2017, up by 10.12 percent.
Commenting on the company's performance for the first quarter of 2018, Ajay Kapur, Managing Director and CEO, Ambuja Cement said that "Our focus on reducing costs, improving productivity, and increasing capacity utilisation backed by strong attention to the retail segment and robust sales from our premium value-added products led to a strong quarter with 29% EBITDA growth."
The healthy top-line growth of 9% on a year on year (y-o-y) basis attributable to improved realizations and sales growth of premium brands - Compocem and Roof Special.
During this quarter, the rise in global oil and energy prices drove up power & fuel costs and diesel prices which impacted freight costs.
However, efficiencies improved. Productivity improvements combined with cost-saving measures contributed to an Operating EBITDA increase of 29% compared to the corresponding quarter of the previous year.
Performance of Material Subsidiary - ACC Limited
Net Sales during the first quarter of 2018, went up by 14% to Rs 3,557 Crore compared to Rs 3,108 Crore for the same quarter last year.
Operating EBITDA for the first quarter of 2018 registered a growth of 18% to Rs 492 Crore as against Rs 417 Crore during the same quarter of the previous year.
Cement & Ready Mix Concrete sales volume grew 8% and 16% respectively during the quarter compared to the corresponding quarter of the previous year reflecting a stronger focus on premium products and consumer solutions.
The stocks of Ambuja Cement Limited were trading at Rs 239.90, down by 0.021% in BSE.