ACC, Grasim Industry & Madras Cements Q2 results

ACC, part of the Swiss cement major Holcim, has posted a decline of 7.7 per cent in its net profit at Rs 259.98 crore for the quarter ended September 30 from Rs 281.79 crore in the corresponding three-month period last year. The company’s net sales during the period stood at Rs 1913.78 crore against Rs 1686.76 crore a year earlier, up 13.5 per cent. 

The country’s largest cement maker with a capacity of 23 million tonnes could not stay aloof from the slowdown in the construction industry and rise in input costs. The company’s operating profit remained flat at Rs 391.42 crore in the September quarter. 

“This can be attributed to certain changes in the cost structure year-on-year due to effective increase in government taxes and duties by 15 per cent,” said the company in a statement. It added that fuel costs alone increased by 34 per cent, while other input costs increased by 8 per cent. The company sold 4.86 million tonnes of cement in the quarter, 3.8 per cent more than last year. The sales performance for the quarter was somewhat impacted by the unprecedented floods in Bihar and Orissa. 

Grasim Industries net dips 22 per cent 

Mumbai: Grasim Industries, the flagship company of the Aditya Birla group, has posted a decline of 21.61 per cent in its consolidated net profit at Rs 486 crore for the quarter ended September 30 compared with Rs 620 crore in the corresponding quarter last year. 

The company’s net sales during the period stood at Rs 4,489 crore against Rs 3,964 crore last year, up 13.24 per cent.Higher input costs coupled with low demand dent the company’s performance in the quarter. 

The core businesses of cement and textiles felt the impact. On the standalone front, the company’s net profit dipped to Rs 419 crore during the quarter compared with Rs 500 crore last year, down 16.20 per cent. The company’s net sales grew to Rs 2,701 crore from Rs 2,508 crore, up 7.7 per cent. 

Madras Cements bottom line drops 5%

Chennai: Madras Cements has reported 5 per cent drop in its net profit for the quarter ended September 30 at Rs 113 crore as compared to Rs 120 crore for the same period last year. The company’s net sales increased to Rs 664 crore as against Rs 500 crore last year, an increase of 32 per cent.