Gujarat Ambuja slumps after results

Dalal Street Spikes

 The counter is said to have lost ground as the Q1 results announced by the company on Friday afternoon session failed to meet market expectations.

 For the Q1 ended September 2003, the company reported a 40 per cent rise in net profit at Rs 18.11 crore (Rs 12.93 crore), on a 0.07 per cent increase in net sales at Rs 373.55 crore (Rs 373.26 crore).

 Cement prices have remained subdued over the last few months, owing to the heavy monsoons, which has hit construction activity.