India: Ambuja Cement recorded revenues of US$1.06bn in the first quarter of the 2024 financial year, up by 9% year-on-year from the previous first quarter. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 55% to US$234m. The producer reported a 17% reduction in its fuel costs, from US$30.16/Mcal to US$27.07/Mcal. Nonetheless, its net profit fell by 38% to US$78.1m from US$127m.

Chief executive officer Ajay Kapur said “Along with the strong demand for our premium cement products, growth was fuelled by our various competences in operational excellence, supply chain management and sales and marketing excellence. Our synergies with the Adani Group companies are lowering input costs, which is boosting EBITDA growth. Furthermore, our blueprint of improvements through group synergies and capital expenditure for efficiency and decarbonisation whilst creating opportunities, will redefine the cement industry landscape. These include lowering the clinker factor, diminishing energy intensity, implementing waste heat recovery (WHR) systems and augmenting renewable energy generation.” He added “Our long-term competitiveness remains robust, ensuring industry-leading profitability as we chase our ambitious growth goals. With a firm belief in our strategic approach, we are poised to continue our trajectory of outstanding performance as we are devoted to sustainable and responsible growth.”