Ambuja Cements, part of Swiss giant Holcim, has posted 43.7 per cent decline in its net profit for the quarter ended June 30 at Rs 325 crore, compared with Rs 577 crore posted in the previous quarter last year.
The company’s net sales grew 18.1 per cent to Rs 1,847 crore from Rs 1,564 crore during the period.
The decline in profit is attributed to the exceptional item gain the company registered last year by sale of investment in Ambuja Cements India Private Limited to Holderind Investments Limited. Ambuja Cements had sold it at Rs 313 crore.
