Ambuja delivers strong performance with margin expansion on lower costs for the quarter and half year ended 30th June, 2020
Despite disruptions from the COVID-19 outbreak, the Company recorded a 10% rise in net profit at Rs 453 crore for the Quarter ended June 30, 2020, as compared to the corresponding period of last year. Operating Earnings Before Interest, Taxes, Depreciation, and Amortization margin (EBITDA – a metric used to evaluate operating performance) soared by a notable 28% in the same period. Resolute focus on Health, Productivity, and Cost produced incredible outcomes even as the Consolidated Results reflect resilient performance.
Neeraj Akhoury, MD & CEO, said, “We are determined that the health of our employees and partners is accorded the highest priority. The country is working to surmount Covid-19 related challenges and Ambuja is a proud partner in these collective efforts. Our Ambuja Cement Foundation has been a flag bearer in delivering support to our stakeholders.
Ambuja has recorded yet another quarter of very strong results with operating EBITDA margin of 28%. In spite of complete lockdown in April, volume decline of 29% was more than offset by lower costs, which fell by 31%. Our sharp focus on cost reductions across value chain and cash management has helped to further strengthen our strong balance sheet. Ambuja has remained resolutely focused on Health, Productivity and Cost along with working closely with the community.”
For the detailed Financial Results of Ambuja Cement for quarter and half year ended June 30, 2020, click HERE
For the Media Release with the details of the Consolidated Financial Results for the quarter ended June 30, 2020: click HERE