Ambuja Cements rose 1.36% to Rs 226.95 at 9:39 IST on BSE after net profit jumped 44% to Rs 239 crore on 9.2% growth in net sales to Rs 2188 crore in Q3 September 2014 over Q3 September 2013.
The Q3 result was announced after trading hours yesterday, 30 October 2014.
Meanwhile, the S&P BSE Sensex was up 146.70 points or 0.54% at 27,493.03.
On BSE, so far 47,000 shares were traded in the counter as against average daily volume of 1.32 lakh shares in the past two weeks.
The stock hit a high of Rs 228.30 and a low of Rs 226.30 so far during the day.
Ambuja Cements attributed increase in net sales to improved sales realization. Earnings before interest, taxation, depreciation and amortization jumped 46.1% to Rs 393 crore in Q3 September 2014 over Q3 September 2013.
Ambuja Cements said that cement demand is likely to be better with expectation of higher GDP growth and improved business sentiments. The drivers for demand will continue to be housing and infrastructure, considering the government's recent push in this sector. Ambuja Cements said that the company will continue to work on improving efficiencies and focus on customer and commercial excellence. Ambuja Cements said that the company believes that these initiatives will help improve its performance.
Ambuja Cements is engaged in manufacturing and marketing cement and clinker for both domestic and exports markets.
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