ACC Q2 net up 85%

ACC, the country’s second-largest cement maker in terms of capacity, has posted a rise of 84.65 per cent in its consolidated net profit for the quarter ended June 30 at Rs 470.98 crore compared with Rs 255.05 crore posted in the previous corresponding quarter.

The company’s net sales during the period rose to Rs 2,188.21 crore from Rs 1,906.23 crore last year, up 14.79 per cent.

Riding on the back of robust demand seen during the quarter accompanied with firmer prices than last year, reduced power & fuel costs and a decline in freight charges, ACC could put good quarterly numbers in line with analysts’ expectations.

Sumit Banerjee, managing director, ACC, said: “The good points in the quarter have been our initial achievements on the energy front and on overall cost management. Our whole team has worked really hard on all elements of cost — large and small.”