Ambuja Cement Q3 Results: Net profit zooms 242% to ₹1,758 crore

Ambuja Cement, an Adani Group company, on Wednesday reported a whopping 242.2% jump in its consolidated net profit at ₹1,758.03 crore in the third quarter ending December 31, 2024.

The cement maker had posted a consolidated net profit of ₹513.68 crore during the same period last fiscal year.

Meanwhile, its total income also advanced almost 28% to ₹5,814.89 crore in the quarter under review from ₹4,547.73 crore in the year-ago period. On a quarter-on-quarter basis, it rose 30% from ₹4,478.24 crore in Q2FY25.

“Improved consumption demand in housing and infrastructure segments and increased government spending are poised to reverse the tepid 1.5-2% cement demand growth during H1 FY’25. This demand is expected to grow by 4-5% in FY’25, further supported by the pro-infra and housing Budget 2025. The anticipated rebound in demand, supported by government initiatives, is likely to enhance cement sector performance in the coming quarters. Ambuja Cements will continue to grow at a faster speed than the industry,” the company said while commenting on its outlook.

Shares of the company were trading at ₹543.95, rising 0.23% on BSE.

Ambuja Cement also announced that its board has approved an open offer to acquire up to 26% stake in Orient Cement from public shareholders at a price of ₹395.4 per share.

"During the quarter ended December 31, 2024, the Board of Directors of the Company has approved the acquisition of 7,76,49,413 equity shares of Orient Cement Limited representing 37.9 percent of the existing share capital from the promoters/promoter group of Orient and acquisition of 1,82,23,750 equity shares of Orient representing 8.9 percent of the Existing Share Capital from the certain public shareholders of Orient. Further, the Board of Directors has also approved making an open offer for up to 5,34,19,567 equity shares at a price of ₹395.40 per equity share to acquire up to 26 percent of the share capital of Orient from the public shareholders," said the company in a stock exchange filing.