Ambuja Cement's net profit jumps 58% in Q3 FY19

Ambuja Cement Monday reported nearly threefold increase in consolidated net profit to Rs 1,377.88 crore in the December 2018 quarter, benefiting from write-back of tax provisions relating to earlier years. The company, which follows January-December fiscal, had posted a consolidated net profit of Rs 478.39 crore in the corresponding quarter last fiscal, Ambuja Cement said in a regulatory filing. Its profit after tax includes write-back of tax provisions related to earlier years amounting to Rs 873 crore, the company said. The consolidated revenue from operations stood at Rs 6,728.68 crore in the fourth quarter as compared with Rs 6,173.01 crore in the year-ago period, it added.