ZEE Business
ZEE BUSINESS
Live TV
Live TV
  • India
    • Economy
    • Politics
    • Markets
  • World
    • Economy
    • Politics
    • Markets
  • Companies
    • Auto
    • Banking & Financial Services
    • Pharma
    • Energy
    • Infrastructure
    • Media
    • IT
    • Telecom
    • Consumer Products
    • Aviation
    • FMCG
  • Market
    • Mutual Funds
    • Commodity
  • Personal Finance
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
  • Technology
  • Automobile
    • Cars
    • Bikes
  • Small Business
    • SME
    • Startups
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
    • AUTHORS
Home » Companies News

Ambuja Cement's standalone Q4 net profit up 60%

"Our rapid adoption of cashless payment methods in December 2016 quarter helped Ambuja to deliver a strong performance in 2016," Ajay Kapur, Chief Executive Officer of Ambuja Cement was quoted as saying in a statement.

  • Twitter
  • Facebook
  • GPlus
Ambuja Cement's standalone Q4 net profit up 60%
Ambuja Cement informed the BSE, that its net profit during the quarter under review increased to Rs 175.88 crore from Rs 109.96 crore. Photo: Official Website
By IANS
Updated: Tue, Feb 21, 2017
07:32 am
Mumbai, IANS
RELATED NEWS
Ambuja Cement Q4 result today; Here's what to expect Ambuja Cement Q4 result today; Here's what to expect
CCI's penalty on cement companies to impact their profits CCI's penalty on cement companies to impact their profits
ACC, Ambuja, Shree Cement to file case against CCI's order ACC, Ambuja, Shree Cement to file case against CCI's order
LafargeHolcim increases stake in ACC, Ambuja Cement; shares slump LafargeHolcim increases stake in ACC, Ambuja Cement; shares slump
WATCH: Top 5 news stories of this afternoon; From recovery in markets to Govt imposing anti-dumping duty on China WATCH: Top 5 news stories of this afternoon; From recovery in markets to Govt imposing anti-dumping duty on China

Cement major Ambuja Cement on Monday reported a rise of 60 per cent in its standalone net profit for the quarter ended December 31, 2016.

The company informed the BSE, that its net profit during the quarter under review increased to Rs 175.88 crore from Rs 109.96 crore. 

On the contrary, the company reported a decline of 6.64 per cent in its standalone total income from operations for the fourth quarter to Rs 2,231.03 crore from Rs 2,379.22 crore.

"Our rapid adoption of cashless payment methods in December 2016 quarter helped Ambuja to deliver a strong performance in 2016," Ajay Kapur, Chief Executive Officer of Ambuja Cement was quoted as saying in a statement.

"In 2017, we are well placed to be part of the infrastructure development planned by the government, and the new thrust on affordable housing projects. Further, our larger penetration in the rural outreach buoyed on the back of good monsoon and our range of special products and solutions will provide building solutions for projects right across the country."

According to the cement manufacturer, operating costs for the quarter under review were lower than the prior year due to a significant reduction in energy costs by nine per cent mainly on account of increased use of pet coke and alternative fuels, combined with improved efficiency parameters.

Besides, the company`s Board of Directors recommended a final dividend on equity shares at the rate of Rs 1.20 per share. 

"With the interim dividend of Rs 1.60 per share paid during the year, the total dividend for the year 2016 works out to Rs 2.80 per share," the company added. 1

The cement manufacturer`s scrip price on the BSE gained 0.55 per cent or Rs 1.30 per share to Rs 239.40 per equity share from its previous close of Rs 238.10.

Business outlook-wise, the company said that it expects a healthy cement growth in 2017, supported by government`s continued focus on housing and infrastructure development and in anticipate of volume effects from demonetisation to be reduced by the end of Q1. 

"The announcement of interest subsidy schemes and an interest rate cut, the recent announcement in the union budget for infrastructure development, including the award of infrastructure status to affordable housing and the increased budget allocation for roads, railways and iirigation will all be key drivers for cement demand," the statement said.

TAGS:
Ambuja Cementambuja Cement Q4 resultQ4FY17AMBUJA CEMENT FINANCIAL PERFORMANCEAMBUJA CEMENT NET PROFITAMBUJA CEMENT VOLUMESBSEAjay KapurPET COKEinterim dividendcementDemonetisationSharesMarket
Next Article

NEXT STORY: Infosys refutes whistleblower's charges on Panaya deal

RELATED NEWS
Ambuja Cement Q4 result today; Here's what to expect Ambuja Cement Q4 result today; Here's what to expect
CCI's penalty on cement companies to impact their profits CCI's penalty on cement companies to impact their profits
ACC, Ambuja, Shree Cement to file case against CCI's order ACC, Ambuja, Shree Cement to file case against CCI's order
LafargeHolcim increases stake in ACC, Ambuja Cement; shares slump LafargeHolcim increases stake in ACC, Ambuja Cement; shares slump
WATCH: Top 5 news stories of this afternoon; From recovery in markets to Govt imposing anti-dumping duty on China WATCH: Top 5 news stories of this afternoon; From recovery in markets to Govt imposing anti-dumping duty on China

LATEST NEWS

Pepsi tops estimates, promises more investments in North America

7th Pay Commission: Now, this new state government employees salaries may get hiked; this is what panel said

Southwest Airlines expects bookings to drop after deadly explosion

ATM cash crunch: Taxman launches raids on hoarders, Rs 2000, Rs 500 notes found in large quantities

Wipro share price plunges 4% post Q4 FY18 results; should you sell?

Have an ABS bike? If not, you better get one in yours starting April itself in Maha

Mumbai monorail to be run by Delhi Metro? Here is what is on cards

FAST MONEY: Wipro, DLF, City Union among ten stocks to make money today

UP Board class 10 result 2018 date: Declaration in April end on upresults.nic.in; also check upmsp.edu for Uttar Pradesh Board updates

India VIX soars 5% as fear factor hits stock markets

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Contact Us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • Amazon Prime Day
  • Income Tax
  • Bharti Airtel
  • NPA
  • Home Loan

Trending Topics

  • Farm Loans
  • 7th Pay Commission
  • Sanitary Pads
  • National Stock Exchange
  • GST

Follow us on

zeebiz
zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved