Ambuja Cement has released its standalone results for the third quarter (Q3) of the financial year 2024. The company's net profit has increased from ₹ 514 crores to ₹ 1,758 crores on a year-on-year (YoY) basis, while earnings also increased.

Revenue grew to ₹4,850 crore from ₹4,422 crore. However, the company's EBITDA declined to ₹407.4 crore from ₹833.6 crore.

EBITDA margin also declined to 8.4% from 19%. While profits have seen a significant increase, the decline in EBITDA and margins indicates that the company has faced cost pressures and other operational challenges. The profitability figures were also aided by government grants, which rose to ₹193 crore during the quarter from just ₹17 crore in the same quarter last year. Earnings for the period grew 13.6% to ₹5,043 crore from ₹4,439 crore last year. Ambuja's earnings before EBITDA fell 29% year-on-year to ₹600 crore, while margins narrowed over 700 basis points to 11.9% from 19% in the year-ago quarter. The company's standalone EBITDA per tonne fell 43% to ₹595 over the past year. Ambuja Cements shares fell as much as 2.5% after the result announcement but are now trading 0.9% lower at ₹538.3. The stock is down 23% from its recent peak of ₹706.