ACC shares down over 3% on weak Sep quarter earnings

Shares of cement maker ACC Ltd today fell by over 3 per cent after the company said its consolidated net profit fell by 29 per cent for the quarter ended September 30.
The stock went down by 3.10 per cent to end at Rs 1,562.05 on BSE. During the day, it slipped 4.34 per cent to Rs 1,542.
At NSE, shares of the company fell by 2.69 per cent to close at Rs 1,566.15.
ACC Ltd today said its consolidated net profit fell by 29 per cent to Rs 82 crore for the quarter ended September 30, hit by subdued market conditions and lower realisations.

The firm, a subsidiary of Ambuja Cement and part of the Swiss giant LafargeHolcim, had posted a net profit of Rs 115.21 crore a year-ago, it said in a BSE filing.
Total consolidated income of the company declined by 10 per cent to Rs 2,521.45 crore in July-September quarter as against Rs 2,789.82 crore during the same quarter in 2015. ACC follows January-December as fiscal year.
Its total expenses were lower at Rs 2,403.14 crore from Rs 2,639.99 crore during the period under review.