Ambuja Cement has reported 77.12 per cent increase in consolidated net profit to Rs 478.39 crore for the third quarter ended December 31, helped by volume growth and increased clinker production.
Part of the Swiss cement giant LafargeHolcim, the company had clocked a net profit of Rs 270.08 crore in October- December a year-ago, Ambuja Cement said in a BSE filing on Tuesday.
Total income during the period under review was up 10.96 per cent to Rs 6,264.81 crore as against Rs 5,645.84 crore in the year-ago period.
"Robust volume growth and record clinker production in the quarter ended December 2017 helped Ambuja Cement deliver strong performance," Ambuja Cement MD & CEO Ajay Kapur said.
Sales volume during the quarter was up 17.4 per cent to 5.87 million metric tonne (MMT) as against 5 MMT of October-December period of 2016-17.
" Our strategy to focus on premium products, core markets and managing costs has delivered higher sales and EBITDA," he further said.
Company’s total expense in December quarter was up 4.36 per cent at Rs 5,541.24 crore as against Rs 5,309.59 crore in the year-ago quarter.
In a separate filing, Ambuja Cement informed that its Board has recommended a final dividend of 100 per cent, which is Rs 2 per share.
With the interim dividend of Rs 1.60 per share paid during the year, the total dividend for the year 2017 works out to Rs 3.60 per share.
"Together with the interim dividend of Rs 1.60 share, the total dividend for the year is Rs 3.60 per share (180 per cent)," the company said in a statement.
The Company in the previous year had paid Rs 2.80 dividend per share which included interim dividend Rs 1.60 per share.
On the outlook, the company said the increased budgetary outlay by the government for "infrastructure development and the focus on affordable housing would benefit the cement sector."
It also informed that Roland Kohler, executive committee member of LafargeHolcim, has been appointed as additional director of the company with effect from February 20, 2018.
With PTI Inputs