Covid-19: ACC profit down 40.5% to Rs 270 cr in Apr-Jun, sales fall 37.2%

Cement maker ACC on Monday reported a 40.53 per cent decline in its consolidated net profit to Rs 270.95 crore for the quarter ending June, impacted mainly by a decline in sales during the lockdown.

The company, which follows a January-December financial year, had posted a profit of Rs 455.68 crore in the same quarter a year ago, it said in a BSE filing.

ACC's total revenue from operations was down 37.29 per cent to Rs 2,602.24 crore during the quarter under review as against Rs 4,149.82 crore in the year-ago period.

ACC's total expenses in April-June quarter of 2019 were at Rs 2,252.62 crore, down 36.25 per cent, as against Rs 3,533.55 crore in the year-ago period.

Its revenue from cement was down 33.59 per cent to Rs 2,550.99 crore as against Rs 3,841.39 crore of the corresponding quarter. Ready Mix Concrete was down 82.87 per cent to Rs 62.63 crore as against Rs 365.82 crore.

Shares of ACC Ltd on Monday settled at Rs 1,330.05 on BSE, up 1.09 per cent from BSE.