India: Ambuja Cements' sales were US$495m in the first quarter of its 2023 financial year, up by 18% year-on-year from first-quarter 2022 financial year levels. Its net profit rose by 45% to US$131m from US$90.4m.The company said that it experienced rising fuel prices and related inflationary impacts during the quarter. It mitigated their impacts through the improved efficiencies delivered under its I Can operating strategy. Meanwhile, its master supply agreement with ACC also helped to restrict growth in transport costs.
Holcim India chief executive officer (CEO) and Ambuja Cements managing director and CEO Neeraj Akhoury said "Ambuja has recorded robust volume growth of 15% and top line growth of 18%. Ambuja Kawach, our green cement, demonstrated a sales growth of 22% year on year."
