Ahmadabad: Ambuja Cements, the cement and building materials flagship of the diversified Adani Group, saw its first quarter consolidated net profit fall by 30.45% or by ₹345.83 crore to ₹789.63 crore, compared to ₹1,135.46 crore during the first quarter of 2023-24.
The company’s revenue drop by 4.60% or by ₹401.42 crore to ₹8,311.48 crore, compared to ₹8,712.90 crore in the same quarter of the previous year. The cement giant’s total income dropped by 3.45% or by ₹309.94 crore to ₹8,666.20 crore, compared to ₹8,976.14 crore in Q1 2023-24.
Mr. Ajay Kapur, Whole Time Director & CEO, Ambuja Cements, said, “We have delivered another sustainable performance and our focus on innovation, digitisation, customer satisfaction and ESG is at the heart of our success. Our persistent performance sets the tone for the rest of the financial year, as we expand our footprint and capacities across new geographies. Our continued improvement on cost brings visibility of achieving the targeted cost reduction of Rs. 530 PMT by FY’28. With Penna transaction expected to be closed by Q2 FY’25, our capacity will go to 89 MTPA and well on track to achieve our 140 MTPA plan by FY’28.”
The company’s brownfield expansions at 14 sites for Clinker facility of 11 MnT and Cement capacity of 23.4 MnT is progressing well as per plan. Out of this 4 MTPA clinker line 3 at Bhatapara (Chhattisgarh) is expected by Q4 FY’25 and 6.4 MTPA grinding facility (Sankrail 2.4, Farakka 2.4 and Sindri 1.6 MTPA) is expected between Q3 & Q4 FY’25. In addition, preoperative work for the 28 MTPA grinding facility and 22 MTPA Clinker facility is under progress.