Ambuja Cement FY09 Net Profit Drops

Ambuja Cement FY09 Net Profit Drops
Published: 05 February 2010

Ambuja Cements Ltd., one of the lowest-cost producers of cement, reported a lower net profit for the fiscal year, impacted by clinker purchases, as also in the absence of one-time gain.

In a filing with Bombay Stock Exchange, the company said that the net revenues for the year increased, on the back of higher volumes, change in the mix between domestic and export sales besides improvement in realizations.

Consolidated Results

The company, based in Junagadh, Gujarat, posted a fiscal-year consolidated net profit of Rs.1,216.84 crore or Rs.7.98 per share, lower by 12% to the Rs.1,389.71 crore or Rs.9.12 per share in 2008.

It said the results for the previous year included a gain of Rs.303.20 crore on sale, being profit on sale investment in Ambuja Cement India Pvt. Ltd., to Holderind Investments Ltd. Excluding the previous year’s gain, the consolidated net profit for the year was Rs.1,801.77 crore, up by 9% from the Rs.1,654.33 crore in 2008.