Strong Operating Performance on Cost Reduction Measures Notwithstanding subdued sales volume, Ambuja Cements (ACL) has reported an impressive and better-than-expected operating performance with operating profit growing by +59% yoy & +37% qoq to Rs5.81bn in 2QCY16 owing to healthy uptick in realization (+4% yoy & +6% qoq) and cost-reduction measures. Operating cost/ tonne declined by ~6% yoy & ~1% qoq mainly aided by cost benefits in terms of higher usage of petcoke in kiln (60% v/s 45%), low packaging costs and cost optimization initiatives. EBITDA/tonne stood at Rs997 vis--vis Rs615 & Rs718 in 2QCY15 & 1QCY16,...