Ambuja Cements gains 6% on strong June quarter results

The stock rallied 6% at Rs 222 on the BSE after the company reported a better-than-expected a 27% year on year growth in standalone net profit at Rs 4.99 billion in June quarter.

Shares of Ambuja Cements were trading higher by 6% at Rs 222 per share on the BSE at 09:30 am, after the company reported a better-than-expected a 27% year on year growth in standalone net profit at Rs 4.99 billion in June quarter (Q2CY18), on account of higher cement sales and lower expenses. It had profit of Rs 3.92 billion in year ago quarter.

Net sales during the quarter rose 4% to Rs 29.27 billion against Rs 28.17 billion in the corresponding quarter of previous year. Cement sales volume rose 5% to 6.37 million tonnes from 6.05 million tonnes