According to the statement, "The merger will unlock greater operational efficiencies, optimise manufacturing and logistics, and enable efficient capital deployment."
The increase in profit was largely driven by a one-time Rs 1,697 crore income tax provision reversal, the company stated
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has approved the merger of Adani Cementation with Ambuja Cements, clearing the way for the Adani Group to streamline its cement operations under a single entity.
Adani Group-owned Ambuja Cements on Tuesday reported a net profit of Rs 1,282.24 crore for the fourth quarter of FY25, marking a 15.71% decline from Rs 1,521.21 crore recorded in the corresponding quarter of FY24.
The shares of Ambuja Cements, part of the diversified Adani Portfolio, gained in morning trade on Friday after a promoter entity likely divested Rs 4,197.8 crore worth stock at the floor price.
The Adani Portfolio company attributed the sustainable performance to volume growth, cost reduction, and improvement in efficiency parameters.
Ambuja Cements would acquire the 100 per cent stake from Hyderabad-based PCIL promoter group P. Pratap Reddy and family.
Last month, it infused Rs 6,661 crore into the cement company raising their stake in the company by 3.6 to 66.7 per cent.
