Ambuja Cements Falls More Than 2% Due To Lower Than Expected Q4 Earnings

Ambuja Cements, a leading cement producing company plummeted more than 2% post lunch hours on BSE due to lower than expected profits. The company reported a net profit of Rs. 247 crore in the quarter ended March 31, 2017, as against a net profit of Rs 54 crore in the quarter ended March 31, 2016, as per BSE filing.

The average net profit estimate worked out by the analysts for the company was around 262 crores.
 The stock is trading at Rs 239 down by 2.5% at 14:43 PM IST on BSE. It hit a high of Rs 244.80 and a low of Rs 235.60 so far during the day. The stock witnessed a spurt in the volume by 2.44 times.

Ambuja Cements Limited is an India-based holding company, which is engaged in the manufacture of clinkers and cement. The Company operates through cement and cement related products segment.

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About Suhani Varma