Coal news and updates

Ambuja Cements’ final qtr consolidated net up 4%

February 19: Ambuja Cements Limited, a Holcim Group company, reported a consolidated net profit of Rs 328.59 crore for the final quarter (October-December) of 2014, up almost 4% against a net profit of Rs 316.50 crore reported in the same quarter of 2013, the company said in a filing to the BSE on February 18.

For 2014, Ambuja Cements’ net profit increased 15.5% to Rs 1,496.36 crore against a net profit of Rs 1,294.57 crore in 2013.

“Net sales (in 2014) increased by 9.2% primarily on account of improved sales realisation and volume growth,” Ambuja Cements said.

In 2014 the company sold 22.15 million tons (mt) of cement and clinker, up 2.5% from 21.60 mt sold in 2013.

On a quarter-on-quarter basis also the company’s net loss improved from Rs 239.06 crore in the penultimate quarter (July-September) quarter.

In 2014 the company’s total income from operations increased to Rs 9,999.67 crore against Rs 9,205.63 crore reported in 2013.

"Cement demand is expected to be better with expectation of higher GDP growth and improved business sentiments. The drivers for demand will continue to be housing and infrastructure considering the government's push in this sector," it said.

"The company will continue to work on improving efficiencies and focus on customer and commercial excellence. The company believes that these initiatives will help translate into improved performance," it added.