Ambuja Cements Q3 Results: Profit Falls 24% But Beats Estimates
Ambuja Cements Ltd.'s third-quarter profit fell but beat estimates, aided by higher other income.
The cement maker's net profit fell 24% sequentially to Rs 890.6 crore in the quarter ended September, it said in an exchange filing. That compares with the Rs 590.6-crore consensus estimate of analysts tracked by Bloomberg. The company follows calendar-year reporting.
Other income rose 20.5% quarter-on-quarter to Rs 93.4 crore.
Revenue fell 4.7% over the preceding quarter to Rs 6,647.1 crore. Analysts had projected the metric at Rs 3,189.9 crore. That came amid lower sales in a seasonally weak quarter.
Operating profit declined 22.5% sequentially to Rs 1,416.4 crore. Analysts had expected Rs 785.2 crore.
Power and fuel expenses, which remained stable at 23.4% for the quarter, helped. Freight and forwarding expenses, too, remained nearly unchanged at 25% of the topline.