The stellar performance of Ambuja Cements in the December quarter has surprised the Street. The impressive show came mainly on the back of higher-than-expected cement volumes and better cost control measures. Ambuja follows the January-December financial year.
A growth of 17.4 per cent in cement volumes pulled up revenues, which grew 19.4 per cent year-on-year (y-o-y) to Rs 26.12 billion (up 14.5 per cent sequentially). Realisations, however, remained subdued as expected. These were up 3 per cent y-o-y at Rs 4,427 a tonne, but were 2.2 per cent lower sequentially.
Analysts attribute the strong volumes to a better demand scenario in the