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The September 2016 quarter results of Ambuja Cements were below expectations. The company’s sales volumes were down 6.6 per cent Y-o-Y to 4.5 million tonnes. While the monsoon reduced overall volumes for the industry, Ambuja Cements also lost market share.
However, price realisation improved by 2.8 per cent with better pricing discipline among the northern cement players. Net-net, the company’s sales were down 4.3 per cent Y-o-Y during the quarter. The operating margin of the company was impacted by higher freight costs as well as lower volumes.
Consolidated net profit was up 40 per cent to ₹216 crore for the September quarter. However, the previous figures are not comparable because of the amalgamation of Holcim with the company. It had extraordinary dividend income of ₹103 crore from ACC during the quarter.
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