Ambuja Cement, owned by Swiss cement major, Holcim, reported a 26 per cent rise in net profit for the quarter ended June 2014 at Rs. 409 crore. The company’s net sales for the period rose 15.4 per cent to Rs. 2,706 crore while operating profit was up 12.4 per cent at Rs. 588 crore. The board of directors has recommended an interim dividend of 1.8 per share (90 per cent).
It sold almost 8 per cent more cement during the quarter at 5.79 million tonnes.
In a statement, Ambuja Cement said that although macroeconomic conditions remain challenging, construction activity is expected to pick up pace considering favourable announcements in the Union Budget for infrastructure and housing.
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The company said it continues to work on improving efficiencies and focus on customer and commercial excellence and believes that these initiatives will help to preserve and also improve performance.
On the Bombay Stock Exchange on Thursday, Ambuja Cement rose 1.11 per cent to close trade at Rs. 218.7.