On August 2, Ambuja Cements, a prominent player in India’s cement industry and part of the Adani group, revealed its Q1 FY2024 results. The company’s standalone profit for the quarter reached Rs 643 crore, slightly exceeding the estimated figure of Rs 639 crore. Additionally, Ambuja Cements recorded a significant YoY growth in its standalone income, with Q1 FY2024 income reaching Rs 4,730 crore compared to Rs 4,432 crore estimated.
Consolidated Profit Witnesses Impressive 31% YoY Surge
Despite the annual decline in standalone profit, Ambuja Cements displayed resilience on the consolidated front. The company reported a remarkable 31% YoY surge in consolidated profit, reaching Rs 1,135 crore for the June 2023 quarter. This is a considerable increase from the net profit of Rs 865 crore reported in the corresponding quarter of the previous financial year. Moreover, Ambuja Cements’ consolidated income for Q1 FY2024 witnessed a 9% YoY growth, reaching Rs 8,713 crore.
