Ambuja Cements Q2 net profit plunges 90 pc as margins come under pressure

Ambuja Cements Ltd reported a 90 per cent year-on-year plunge in consolidated net profit to Rs 236 crore for the September quarter, as higher fuel and logistics costs and seasonal weakness squeezed operating margins at the Adani Group company. The year-earlier profit of Rs 2,336 crore included a Rs 1,697 crore reversal of an income-tax provision, tempering the significance of...