Ambuja Cement sees 1% rise in net sales for 3Q19

Ambuja Cement sees 1% rise in net sales for 3Q19
23 October 2019

India’s Ambuja Cement (LafargeHolcim) reported a modest decline in standalone sales volumes to 5.23Mt in the 3Q19, compared with 5.456Mt in the year-ago period. However, net sales climbed 1.3 per cent YoY to INR25.56bn (US$360.48m) and EBITDA advanced 22.9 per cent to INR4.4bn. Profit after tax increased 31.3 per cent to INR2.35bn from INR1.79bn.

"In the backdrop of general slowdown in economy and subdued construction activity, Ambuja has delivered yet another quarter of good EBITDA and PAT growth despite lower volumes. This has been possible with a clear focus on product mix enrichment and reduction in logistics costs," said Bimlendra Jha, managing director and CEO.

In the first nine months of the year, sales volumes fell to 17.42Mt from 18.05Mt in the 9M18. Again, net sales recorded a rise of 1.3 per cent YoY to INR83.15bn. EBITDA was up 7.6 per cent to INR16.01bn, while profit after tax also increased 13.1 per cent YoY to INR10.74bn.

The company also reported significant progress on its greenfield project at Marwar Mundwa.

Published under Cement News