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AHMEDABAD: The cement manufacturing arm of ports-to-power conglomerate, Adani Group, Ambuja Cements, posted a 31% rise in its consolidated net profit for the first quarter of 2023-24. The company’s profit after tax stood at Rs 1,135 crore during the quarter, up from Rs 865 crore in the corresponding quarter of 2022-23.
The company’s net revenue went from Rs 8,713 crore to Rs 8,033 crore during the period, up 8.4%. The company posted sales volumes of cement and clinker of 15.4 million ton, up 9% from 14.1 Million Tonne.
“Our synergies with the Adani Group companies are lowering input costs, which is boosting EBITDA growth. Furthermore, our blueprint of improvements through Group synergies and CAPEX for efficiency and decarbonization whilst creating opportunities, will redefine the cement industry landscape,” said Ajay Kapur, Whole Time Director & CEO, Ambuja Cements.
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