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New Delhi: Ambuja CementsKey Cement & Building Materials Company Adani Cement and part of Adani Grouphas reported a decline of 10.88 per cent in its net consolidated profit during the quarter ended March 31, 2023. Its profit after tax in the fourth quarter of FY23 stood at Rs 763.30 crore, as against Rs 856.46 crore reported in the corresponding quarter of the previous fiscal. the company said in a BSE filing.
The company’s net consolidated total income in Q4 FY23 stood at Rs 8,250.45 crore, a growth of 3.25 per cent over Rs 7,990.70 crore reported in the same quarter last year.
“With the increase in construction activities in our markets, we see continuation of high demand and strong volumes in the coming quarters as well. We look to reduce our carbon footprint by reducing clinker factor, reducing thermal and electrical energy intensity, implementing Waste heat recovery systems at our plants and increasing our capacity and use of renewable energy generating systems,” said Ajay KapoorWhole Time Director and CEO of the Company.
The board of directors recommended payment of a final dividend of Rs 2.50 per equity share (fully paid) of Rs 2 each for the financial year ending March 31, 2023.
During the quarter, group synergies on coal procurement, coal basket change with kiln fuel cost reduced by 10% from Rs 2.33 per ‘000 kcal to Rs 2.10 per ‘000 kcal. The company said in its investors presentation that it has total assets of Rs 38,757 crore as on March 31, 2023.
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