Ambuja Cement Reports Staggering Q2 FY24 Profit Surge of 751.0%
Adani Group's Ambuja Cement surprises with a remarkable 751.0% increase in profit for Q2 FY24, reaching Rs 792.96 crore, surpassing market predictions. The company's revenue from operations also grows by 4.1%, standing at Rs 7,423.95 crore for the quarter ending in September 2023, exceeding expectations.
Adani Group's cement manufacturing company, Ambuja Cement, reported a significant profit for the second quarter of FY24, standing at Rs 792.96 crore. This figure reflects a remarkable increase of 751.0 percent compared to the same period last year when the profit was Rs 93.18 crore, exceeding market expectations. The company's revenue from operations for this quarter reached Rs 7,423.95 crore, indicating a growth of 4.1 percent when compared to Rs 7,131.39 crore during the second quarter of FY23.
Ambuja Cements had been anticipated to post a Q2 profit of Rs 515 crore with revenue at Rs 4,099 crore for the quarter ending in September 2023, according to a CNBC TV18 poll.
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