Ambuja Cements’ performance for the quarter ended March 2018 (Q1) disappointed the street with net profit at Rs 2.72 billion, up 11.3 per cent year-on-year, falling short of the Bloomberg consensus estimate of Rs 2.97 billion. Its stock, thus, closed 1.5 per cent lower, at Rs 237, in Friday’s trade. Analysts observe, given the subdued outlook, the stock may remain range-bound in the near-term.
The March quarter, the first quarter for Ambuja as it follows January-December financial year, was affected by rising costs and lower-than-expected volumes. Sales volumes also grew by just 3.3 per cent yoy to 6.22 million tonne