India’s Ambuja Cements first-quarter profit falls on higher costs

July 28 (Reuters) – India’s Ambuja Cements ‌reported a ‌36.8% drop in ​first-quarter profit on Tuesday, pressured higher fuel ‌costs ⁠due to the Middle ⁠East war.

The Adani Group-owned ​cement ​maker ​reported a ‌profit after tax of 5.04 billion rupees ($52.59 million) for the ‌quarter ended ​June ​30, ​up ‌from 7.97 billion ​rupees ​a year earlier.

(Reporting by ​Urvi ‌Dugar in Bengaluru; ​Editing by Subhranshu ​Sahu)