Ambuja net profit rises by 6.6 per cent, expects recovery after elections

New Delhi: Cement maker Ambuja Cements Ltd reported a forecast-beating 6.6 per cent rise in quarterly profit on higher sales, and expects a revival in the economy after ongoing elections ending on May 16.

"Although macroeconomic condition remains challenging, construction activity is expected to pick up pace after elections," stated the company. Ambuja, controlled by Switzerland's Holcim Ltd, the world's second-largest cement producer, reported a net profit of 5.20 billion rupees ($85.2 million) for the first quarter ended March 31, compared with 4.88 billion rupees a year earlier. Net sales for the quarter rose about 4 per cent to 26.4 billion.