ACC and Ambuja Cements are trading over 2% lower after reporting disappointing financial results for the quarter ended June 30, 2011 due to lower sales and higher expenses.
Ambuja Cements reported a 11% year-on-year decline in net profit at Rs 348 crore, while ACC's net profit dropped 6% to Rs 328 crore during the recently concluded quarter. ACC reported 17% rise in sales to Rs 2,539 crore, while Ambuja Cements reported a 6.1% rise in net sales to Rs 2,173 crore for the quarter ended June 30, 2011.
Ambuja Cements is down 3% at Rs 130 and ACC is trading at Rs 1,006, a 2% fall compared to its previous day's close. a Cements dip post June quarter results.
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