ACC Ltd, the country's largest cement maker, today announced a 15 per cent drop in net profit in the June quarter but said the outlook for the sector was positive. | |
| The reduction in net profit was mainly because of the previous corresponding quarter's net gain from sale of land worth Rs 146.3 crore. The company, in which the world's second largest cement maker Holcim holds 41 per cent stake, did record no such gain this quarter. |
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| Profit before exceptional items rose 25.33 per cent to Rs 511.6 crore in the second quarter ended June compared with Rs 408.2 crore in the corresponding previous quarter. Net sales grew to Rs 1,867.95 crore (Rs 1,468.80 crore), up 27 per cent. The rise in net sales was attributable to higher volume, better management of product mix and improvement in sales realisation. Earning per share (EPS) for the period was Rs 18.75, lower than previous corresponding quarter's Rs 21.72. The company's board has recommended an interim dividend of Rs 10 per share aggregating Rs 219.24 crore. The face value of the ACC share is Rs 10. ACC has a capacity of about 20 million tonnes and plans to expand it to 27.5 million by end-2009. |
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