The cement major's consolidated net profit tumbled 40.5% to Rs 270.95 crore in Q2 June 2020 as against Rs 455.68 in Q2 June 2019.
Revenue from operations stood at Rs 2602.24 crore in Q2 June 2020, declining 37% from Rs 4149.82 crore reported in the same period last year. The result was announced after market hours today, 20 July 2020.Profit before tax (PBT) declined 40% year-on-year to Rs 403.11 crore in Q2 June 2020 as against Rs 672.63 in Q2 June 2019. Total tax expense tumbled 39% to Rs 132.16 crore in Q2 June 2020 over Q2 June 2019.
ACC said it had shut-down plants following nationwide lockdown which was announced by the Government of India in view of COVID-19. From 20 April 2020, operations at plants commenced in a phased manner taking into account directives from various government authorities.
Shares of ACC rose 1.09% to Rs 1330.05. The scrip traded in the range of Rs 1314.90 to Rs 1334.65 in today's trade.
ACC is engaged in manufacturing of cement and ready mixed concrete. The company's segments include cement and ready mix concrete.
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