ACC posts 138% rise in profit

BS 200 SCORECARD

The Associated Cement Companies has recorded a 138 per cent increase in net profit from Rs 22.32 crore in the October-December 2003 quarter to Rs 53.08 crore in the same quarter of the current fiscal.

The company posted a 25 per cent growth in its total income from Rs 791.17 crore to Rs 987.61 crore in the third quarter ended December 31, 2004. Sales realisation during the quarter improved 25 per cent at Rs 955.33 crore. Profit before tax was up 95 per cent at Rs 73.65 crore compared with Rs 37.77 crore in the same period of the previous fiscal.

"Increase in coal, gypsum, diesel and freight put pressure on costs which was partially nuetralised through improved operating efficiancies,' said the company in a press statement.

ACC also informed that its modernisation project at Chaibasa including the installation of a 15 MW captive power plant and augmenting capacity at Gagal are progressing as per schedule.

The company has also acquired a 75 MW captive power plant from Tata Power for Rs 235.45 crore in January 2005 and this has been taken into account in the December quarter.