Q2 Results: Ambuja Cements’ profit drops to Rs 472.89 crore, Adani Power’s profit also halves
New Delhi| Adani Group company Ambuja Cements’ consolidated net profit for the second quarter ended September of the current financial year 2024-25 has declined to Rs 472.89 crore. The company’s net profit for the second quarter (July-September) of the previous financial year 2023-24 was Rs 987.24 crore.
Ambuja Cements Ltd. (ACL) reported in the stock market, its operating income stood at Rs 7,516.11 crore in the July-September quarter, compared to Rs 7,423.95 crore in the same period of the previous financial year. ACL’s total income (which includes other income) stood at Rs 7,890.14 crore in the second quarter. Total expenditure for the quarter under review stood at Rs 7,023.49 crore.
Ambuja Cements reported a net profit of Rs 500.66 crore in the July-September quarter on a standalone basis. It was Rs 643.84 crore in the same quarter a year ago.
Single operating income in Q1 FY 2024-25 was Rs 4,213.24 crore. Commenting on the results, Ajay Kapoor, Whole-time Director and Chief Executive Officer (CEO) of the company, said that ACL has delivered another sustained performance in line with its ‘‘growth blueprint and setting new standards in efficiency.
“With our strong hold across the country, we are also expanding our presence to new geographies in line with our vision”, he said. We are all set to achieve a capacity of over 100 million tonnes by the end of the current financial year following the successful conclusion of the Orient Cement deal
ACL’s operating revenue stood at Rs 15,827.5 crore and net profit at Rs 1,256.07 crore in the first half of the financial year (April to September). In the last five years, it recorded the highest sales volume of 30.1 million tonnes in the first half.
Adani Power consolidated net profit for the second quarter ended September of the current financial year 2024-25 declined by 50 per cent year-on-year to Rs 3,297.52 crore. The main reason for this is low income as well as high tax burden. The company had made a net profit of Rs 6,594.17 crore in the second quarter (July-September) of the previous financial year 2023-24.
Adani Power reported in the stock market, after settlement of all major regulatory matters and recovery of dues from discoms (power distribution companies) last year, the one-time revenue in the first half of FY 2024-25 (April-September 2024) stood at Rs 1,020 crore, compared to Rs 9,278 crore in the first half of FY 2023-24. The company’s total income declined to Rs 14,062.84 crore in the quarter under review from Rs 14,935.68 crore in the same quarter a year ago.
Adani Power Chief Executive Officer SB Khayalia said in a statement, ‘‘ Adani Power has started the next phase of its development journey. Achieving the goals of rapid capacity expansion and achieving power supply agreements to ensure long-term revenue sustainability.’’
The Board of Directors has approved raising funds up to Rs 5,000 crore through secured, rated, listed, redeemable, non-convertible debentures. This includes funds of up to Rs 2,500 crore through public issue in one or more instalments and up to Rs 2,500 crore through private planning. The Board of Directors also gave the Management Committee powers to approve, implement and conduct activities related to this issue, among other things.