Shares of Ambuja Cements today jumped over 5 per cent after the company's standalone net profit for the October-December quarter rose by 49 per cent.
Ambuja Cements' stock ended at Rs 163.75, up 5.10 per cent on the BSE. At the NSE, the scrip ended at Rs 163.70, up 5.04 per cent.
Ambuja Cements' standalone net profit for the December quarter rose by 49 per cent to Rs 316.50 crore.
"Reported Profit After Tax (PAT) rose by 49 per cent year on year aided by tax write back. Adjusted PAT came in-line with estimates," said V Srinivasan, Research Analyst - Cement, Angel Broking.
The company, which is controlled by Swiss major Holcim, had clocked Rs 211.97 crore net profit in the same quarter of last fiscal, 2012-13.
Its total income in fourth quarter of 2013-14 fell to Rs 2,209.38 crore from Rs 2,335.19 crore a year ago, the company said yesterday.
Ambuja Cements, which follows January-December accounting year, reported a near flat net profit for 2013 at Rs 1,294.57 crore, compared to Rs 1,297.06 crore in the previous year.
