Cement major Ambuja reported a multifold growth in its consolidated net profit at Rs 793 crore for the quarter ended September 2023, compared with Rs 93 crore in the same quarter last year. Revenue from operations increased by 4% year-on-year to Rs 7,424 crore in the reporting second quarter. It was Rs 7,131 crore a year ago.

The company reported an EBITDA of Rs 1,302 crore in the July-September period, which was also up nearly 4 times over Rs 327 crore in the last-year period.

Margins for the quarter improved significantly to 17.5%, compared with just 4.6% in the corresponding quarter of the previous year.

The company has reported sales volume growth of 2%, driven by micro markets management, expansion of dealers network and push on expansion of new markets.

On a sequential basis, net profit is down 12% from Rs 906 crore reported in the preceding June quarter. Revenue from operations also declined 15% quarter-on-quarter (QoQ).

Other income in the reporting period surged 337% to Rs 476 crore as against Rs 109 crore in the previous year period.

For the half year ended September, net profit more than doubled to Rs 1,699 crore versus Rs 845 crore in the same period of the previous year.

Revenue from operations during the first half came in at Rs 16,136 crore, up marginally from Rs 15,164 crore a year ago.

Operationally, Kiln fuel cost reduced by 34%, and is expected to further come down through mix and source optimization. WHRS power mix has gone up by 11.2 pp to 15%.

“Along with strong demand for our premium cement products, our business performance improved due to operational excellence, supply chain management and sales and marketing excellence, adjacencies benefits with Group companies are lowering input costs which is boosting EBITDA and margin growth,” said Ajay Kapur, Whole Time Director and CEO, Ambuja Cements.

On Wednesday, Ambuja shares were trading 2% lower at Rs 415.40 on NSE.