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Ambuja Cements reports 363 per cent rise in net profit for July-September quarter

This was, however, lower than the nearly Rs 682 crore consensus estimate of analysts tracked by Bloomberg for the Gautam Adani-led firm. Revenue from operations rose to Rs 3,969.79 crore from Rs 3,675.61 crore, while total expenses declined to Rs 3,468.42 crore from Rs 3542.54 crore last year

Our Special Correspondent Mumbai Published 02.11.23, 12:50 PM
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Ambuja Cements on Wednesday posted a 363 per cent rise in standalone net profit for the second quarter ended September 30.

The Gautam Adani-firm clocked a net profit of Rs 643.84 crore compared with Rs 138.91 crore in the year-ago period.

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This was, however, lower than the nearly Rs 682 crore consensus estimate of analysts tracked by Bloomberg. Revenue from operations rose to Rs 3,969.79 crore from Rs 3,675.61 crore, while total expenses declined to Rs 3,468.42 crore from Rs 3542.54 crore last year.

Since the profit numbers fell short of Street estimates, the Ambuja Cements stock dived 4.18 per cent to settle at Rs 406.75 on the BSE.

Another group firm Adani Wilmar also disappointed as it reported a consolidated net loss of Rs 130.73 crore with profitability being badly hit in the cooking oil business. The company had posted a net profit of Rs 48.76 crore in the year-ago period.

Total income also fell to Rs 12,331.20 crore during the second quarter from Rs 14,209.20 crore in the same period of the previous fiscal.

Sun Pharma

Sun Pharma topped estimates with its consolidated net profits for the July-September period rising to Rs 2,375.5 crore compared with Rs 2,262.2 crore in the year-ago period. Analysts had estimated the pharmaceutical giant to report net profits of Rs 2,000 crore.

Meanwhile, Hero MotoCorp Ltd reported a 47.6 per cent rise in consolidated profit after tax at Rs 1,007.04 crore in the July-September quarter, following higher revenues.

The company had posted a consolidated PAT of Rs 682.28 crore a year ago. Consolidated revenue was at Rs 9,533.07 crore against Rs 9,158.23 crore last year.

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