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Friday, January 28, 2022

ACC’s net profit rose more than 20% to Rs 364 crore in September quarter

The company’s total operational revenue was marginally higher at Rs 3,537.31 crore, compared to Rs 3,528.31 crore in the year-ago quarter, while the company’s total expenses fell by 3.05% to Rs 3,042.75 crore from Rs 3,138.67 crore in the year-ago quarter.

Cement maker ACC Ltd said on Monday that its consolidated net profit in the third quarter rose 20.25 to Rs 363.85 crore. The company follows the January-December financial year. The company recorded a net profit of Rs 302.56 crore in the same period last year.

In the information given to the stock market, the company said that its total operational revenue increased marginally to Rs 3,537.31 crore, from Rs 3,528.31 crore in the year-ago quarter. The company’s total expenses declined by 3.05 per cent to Rs 3,042.75 crore, from Rs 3,138.67 crore in the year-ago quarter.

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Cement business revenue up 4.31% at Rs 3,373.07 crore

The company’s cement volume grew by 0.77 percent to 64.9 lakh tonnes in the July-September quarter from 64.4 lakh tonnes in the same quarter a year ago. The cement business grew by 4.31 per cent to Rs 3,373.07 crore as against Rs 3,233.40 crore in the year-ago quarter. The revenue of ready mix concrete business, however, declined 41.29 per cent to Rs 196.57 crore during the same period from Rs 334.85 crore in the year-ago quarter.

Cost reduction plan helped in the increasing margin

ACC’s MD and CEO Sridhar Balakrishnan said volumes and sales have returned to last year’s levels. The plan to increase efficiency and reduce costs helped in increasing margins. The company said that due to the government’s emphasis on major infrastructure sectors, the demand for cement is expected to increase substantially in the coming years. Shares of the company closed 0.09 per cent stronger at Rs 1,562.80 on the BSE.

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