Ambuja Cements lost 2.11% to Rs 192.25 at 9:18 IST on BSE after net profit fell 45.4% to Rs 166 crore on 7.4% decline in net sales to Rs 2005 crore in Q3 September 2013 over Q3 September 2012.
The Q3 result was announced after market hours on Wednesday, 23 October 2013.
Meanwhile, the S&P BSE Sensex was up 77.14 points or 0.37% at 20,845.02.
On BSE, 41,000 shares were traded in the counter as against average daily volume of 2.07 lakh shares in the past two weeks.
The stock hit a high of Rs 195 and a low of Rs 191.50 so far during the day.
Ambuja Cements' operating EBITDA (earnings before interest, taxation, depreciation and amortization) declined 48.7% to Rs 268 crore in Q3 September 2013 over Q3 September 2012.
Cement and clinker sales volume rose 2.1% to 4.89 million tonnes in Q3 September 2013 over Q3 September 2012.
Ambuja Cements said that the cement industry is going through subdued demand on account of overall economic slowdown. Lower realisation and higher logistics cost adversely impacted the company's profitability in Q3 September 2013.
Ambuja Cements said that the outlook continues to remain challenging due to difficult macro-economic condition and resultant subdued demand for cement. The company will continue working on improving efficiencies, Ambuja Cements said. The company further added that it has been able to cap its production cost increase to about 4.5% QoQ.
Subsequent to quarter ended 30 September 2013, the company commissioned a bulk packing terminal of 1 million ton capacity at Mangalore in Karnataka.
Ambuja Cements is engaged in manufacturing and marketing cement and clinker for both domestic and exports markets.
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