ACC drops after Q3 result

ACC lost 6.7% to Rs 1,436.65 at 10:23 IST on BSE after the company declared its Q3 result after market hours on Wednesday, 17 October 2018.

Meanwhile, the S&P BSE Sensex was down 346.14 points, or 1% to 34,433.44

On the BSE, 41,000 shares were traded in the counter so far compared with average daily volumes of 31,000 shares in the past two weeks. The stock had hit a high of Rs 1,488 and a low of Rs 1,413.50 so far during the day.

ACC reported 15.21% rise in consolidated net profit to Rs 209.14 crore on 10.34% rise in total income to Rs 3468.37 crore in Q3 September 2018 over Q3 September 2017.

The company's cement sales volumes rose by 10% during the quarter spurred by higher demand. The company's ready mix concrete sales volumes grew 12% driven by an increase in the sale of value added products and the addition of 8 new plants across the country. While costs of input materials such as coal, petcoke, diesel and slag continued to increase, they were partly offset by improvements in operating efficiencies and productivity.

In its outlook, ACC said that demand drivers including growth in affordable and rural housing segments as well as infrastructure projects will remain healthy.

ACC is one of India's leading producer's of cement and ready mix concrete.

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