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ACC Q2 net up 32.5 pc to Rs 326.23 cr; sales rise 18 pc

Press Trust of India  |  New Delhi 

Cement maker Ltd today reported a 32.57 per cent rise in its consolidated net profit at Rs 326.23 crore for the April-June quarter, driven by an increase in sales.

The company, which follows the January-December fiscal year, had clocked a net profit of Rs 246.07 crore on the year ago period, Ltd said in a filing.

Its consolidated sales moved up 17.89 per cent to Rs 3,818.21 crore during the quarter under review as against Rs 3,238.69 crore in the corresponding period a year ago.

During the quarter, ACC's cement sales stood at 6.74 million tonnes (MT), up 10.13 per cent, as against 6.12 MT.

Commenting on the results, Managing Director and CEO Neeraj Akhoury said: "ACC's efforts to clarify value propositions and customer-focused guidance have driven significantly better commercial performance."

The direction for both cement and ready-mix business has been to harness current strengths and develop new competencies which resulted in launch of new brands and enhanced plant performance, he added.

Total income from operations stood at Rs 3,985.40, up 20.32 per cent in the April-June quarter, compared to Rs 3,312.30 in the year-ago period.

Meanwhile, the board of ACC approved an interim dividend of Rs 11 on equity share of Rs 10 each. An interim dividend of Rs 11 on equity share of Rs 10 each was paid in 2016.

Shares of ACC today settled at Rs 1,751.25 apiece on BSE, down 0.08 per cent from the previous close.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 17 2017. 19:28 IST