Ambuja Cements net dips 66% in Dec quarter

Net sales decline to Rs 2,356 crore for the fourth quarter

Ambuja Cements on Wednesday reported 66.53 per cent decline in net profit at Rs 109.96 crore for the fourth quarter ended December 31.

The company had posted a net profit of Rs 328.59 crore during the same period of previous financial year.

Net sales of the cement maker declined to Rs 2,355.81 crore for the fourth quarter, as against Rs 2,378.97 crore in the same period of previous financial year, Ambuja Cements said in a regulatory filing.

The company follows January-December financial year. For the year ended December 31, it posted a net profit of Rs 807.88 crore, compared to Rs 1,486.50 crore in the previous year, down 45.65 per cent.

Shares of the firm on Wednesday declined by 1.22 per cent to settle at Rs 195 apiece on the BSE.