ACC Q1FY24 results: Net profit jumps 105% YoY to Rs 466 cr, revenue up 16%

ACC Ltd said that it expects the positive trend of the industry to continue in the coming quarter

Cement-maker ACC Ltd on Thursday reported a 105 per cent jump in its consolidated net profit in the quarter that ended on June 30 at Rs 466.1 crore as compared to Rs 227.32 crore in the same quarter last year. The net profit was 97.8 per cent higher than Rs 235.63 crore in the quarter that ended on March 31. 

Its revenue from operation during the quarter jumped 16.6 per cent year-on-year (YoY) to Rs 5,201.1 crore from Rs 4,522.2 crore last year. Sequentially, the revenue from operation was up 8.5 per cent from Rs 4,790.91 crore in the previous quarter. 

The company's earnings before interest, taxes, depreciation, and amortisation (Ebitda) in the quarter was recorded at Rs 770 crore. The Ebitda margin was 14.8 per cent. 

"Ebitda is expected to sustain with further improvement due to various efficiency and operational excellence initiatives," it said in a release. 

"The growth was driven by robust demand for high-quality cement products across all markets, as well as our continuous efforts to optimise operations and reduce environmental impact," said Ajay Kapur, whole-time director and chief executive officer, ACC Ltd. 

The company said that it expects the positive trend in the industry to continue in the coming quarter. 

"Cement industry is in a positive cycle of demand as well as cost factors. This is coming at the most appropriate time when the company is under transformation phase, buoyed by synergies with the group," it said.