Orient Cement Soars Under Adani Group Leadership
Orient Cement Ltd, now a part of the Adani Group, reported a significant increase in net profit for the September quarter, benefiting from tax reversals and increased sales. The company's revenue rose by 18.25%, and its integration with Ambuja Cements is progressing quickly, with a transition to Ambuja/ACC brands.
- Country:
- India
Orient Cement Ltd, under the leadership of the Adani Group, revealed a substantial rise in net profit, reaching Rs 49.08 crore for the September quarter. This surge was attributed to gains from tax reversals and a boost in sales volume.
Compared to a net profit of Rs 2.32 crore in the same period last year, the firm's financial performance in this quarter marks a significant improvement. The company's revenue from operations increased by 18.25% to Rs 643.32 crore.
With 97% of sales under the Ambuja/ACC brands, Orient Cement is swiftly completing its integration process with Ambuja Cements, following a successful open offer that positioned Adani Group with a 72.66% stake in the company.
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