ACC Q2 net zooms 181%

BS 200 SCORECARD

The Associated Cement Companies (ACC) has posted a 181 per cent increase in its net profit at Rs 78.56 crore for the quarter ended September 30, 2004, compared with a net profit of Rs 27.88 crore, registered during the corresponding period of the previous year.

Net sales stood at Rs 885.28 crore, a rise of 18 per cent, against net sales of Rs 749.74 crore, reported in the same quarter in the previous year.

A K Jain, executive director, ACC said, "Better price realisations and cost efficiencies have augmented the bottomline in the last quarter."

ACC has entered into an agreement with Tata Power to acquire 75 mw of power generating capacity at Wadi, subject to requisite approvals, at a cost of Rs 238 crore. Interest charges were down 19 per cent in the quarter at Rs 19.66 crore (Rs 24.27 crore).