Ambuja Cements Profit Rises on Tax Gains and Volumes
The Adani Group company posted a profit of 16.44 billion rupees as sales volumes hit a record 19.9 million tons. A large tax credit boosted the bottom line.
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AMBUJA CEMENTS LTD in India grew its quarterly profit nearly threefold to 16.44 billion rupees ($173.06 million) through March 31. The result was driven by a 14.6 billion rupee tax credit and record sales volumes of 19.9 million metric tons. Infrastructure-led demand is shielding the Adani Group-owned producer from broader market cooling as national cement demand growth moderated late in the quarter.
