Ambuja Cements Q4 results: Ambuja Cements declared its fourth quarter results on Tuesday. According to the filing, the company's net profit rose 1.6 per cent to Rs 502 crore, while its revenue stands at Rs 4256.31 crore, up 8 per cent year-on-year (YoY). The cement maker's profit for the same quarter last year was Rs 494.41 crore, while the revenue was Rs 3,306.39 crore. 

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The company declared its net income as Rs 4,430.28 crore for the quarter under review. It was up from Rs 3.958.79 crore in the corresponding quarter of the last year. Its consolidated income for FY23 was Rs 20,937.70 crore against Rs 14,260.22 crore in FY22.

During the January-March period, the company's expenses were Rs 3,706.22 crore. It was a substantial jump from Rs 3,306.39 crore in the same quarter last year.   

Board announces dividend

Ambuja Cements on Tuesday also announced a final dividend of Rs 2.50 per equity share with a face value of Rs 2.

"Recommended payment of a final dividend of Rs. 2.50 (Rupees Two and Fifty Paise Only) per Equity Share of Rs. 2/- each (fully paid-up) for the financial year ended March 31, 2023, and the same shall be payable subject to the approval of the Shareholders at the ensuing Annual General Meeting (‘AGM’) of the Company. The final dividend, as recommended by the Board of Directors, if approved at the AGM will be paid on or after 25th July 2023," the company's regulatory filing said.

GLOBAL MARKETS

Global shares fell on Tuesday, as caution set in ahead of the Federal Reserve's upcoming policy meeting, while bumper profits at Europe's biggest bank gave financial stocks a boost. In the currency markets, the Aussie dollar was the standout performer, rising by as much as 1.3% after the Reserve Bank of Australia's decision to raise interest rates, having indicated at its last policy meeting that it may not tighten monetary policy any further.