Ambuja Cement net jumps 85%

Ambuja Cement on Monday reported an 85.2 per cent increase in consolidated net profit of ~206 crore for the December quarter.

Part of Swiss cement giant LafargeHolcim, the company had a net profit of ~111 crore in the year-ago period, Ambuja said. Its total income from operations increased almost twofold to ~4,936 crore against ~2,385 crore in the year-ago period.

“During the year, Holcim India has been amalgamated with the company effective August 12, 2016,” the company said.

Ambuja follows a January-December financial year.

Its total expenses were up ~4,673 crore against ~2,219 crore.

Ambuja’s net profit rose 38.8 per cent to ~1,121 crore against ~808 crore in 2015.

Total income from operations also jumped over twofold to ~20,344 crore, against ~9,481 crore a year ago.

Ambuja Cement informed the exchanges that its board in a meeting held on Monday recommended a final dividend on equity shares at the rate of ~1.20 per share.

“With the interim dividend of ~1.60 per share paid during the year, the total dividend for the year 2016 works out to ~2.80 per share,” it said. Shares of Ambuja Cement on Monday settled at ~239.40 on BSE, up 0.55 per cent from previous close.