Ambuja Cements Q2 net profit declines 45 per cent to Rs 226.4 crore

NEW DELHI: Ambuja Cements today reported 45 per cent fall in its standalone net profit at Rs 226.4 crore for the second quarter ended June, 2015.

The cement maker, in which Swiss building material major Holcim has a majority stake, had posted a net profit of Rs 408.7 crore in the year-ago period, it said in a BSE filing.

Total standalone income of the firm fell by 8 per cent to Rs 2,510.5 crore in April-June quarter of 2015 fiscal from Rs 2,720.1 crore in the same quarter of 2014 fiscal, it added.

Ambuja Cements, which follows January-December as fiscal year, said its Board has declared an interim dividend of Rs 1.60 per share.

The company's current cement capacity is 28.75 million tonnes and has five integrated manufacturing plants as well as eight cement grinding units across the country.

Ambuja informed that the Board approved the amalgamation of its wholly-owned subsidiary, Dirk India Pvt Ltd, with the firm with effect from April 1, 2015, which is now subject to the approval from shareholders, High Court and appropriate authorities.

Shares of the company today fell by 2.52 per cent to settle at Rs 234.30 apiece on the BSE.