ACC Q1 net up 85% at Rs 471 cr

ACC, the domestic cement major and part of the Swiss cement giant Holcim, has posted a net rise of 84.64 per cent in its consolidated net profit for the quarter ended June 30 at Rs 470.98 crore compared with Rs 255.07 crore in the previous corresponding quarter. The company's consolidated net sales during the period stood at Rs 2,188.21 crore against Rs 1,906.23 crore last year, up 14.79 per cent.

Riding on the back of robust demand for cement and firm pricing scenario in the cement industry helped the cement major post a robust show in the quarter under review. The basic earning per share stood at Rs 25.09 compared to last year's Rs 13.59.

On the revnue front, cement business remained the main driving factor and clocked sales of Rs 2,081.25 crore against Rs 1,807.94 crore last year, up 15.11 per cent. However, on the Ready Mix Concrete (RMC) segment the company's revenues dipped to Rs 126.89 crore from Rs 129.81 crore, down 2.25 per cent.

On the Bombay Stock Exchange, the share price of the company was trading at Rs 854, up 5.72 per cent at 1422 IST.