Economy & Market
ACC profit down 8.9%, sales beat estimates
ACC Ltd has reported an 8.9 per cent fall in net profit for the quarter ended 31 March. Consolidated net profit for the quarter fell to Rs 211.06 crore from Rs 231.70 crore a year earlier. Consolidated sales in the quarter rose 9.1 per cent to Rs 3,556.70 crore from Rs 3,259.95 crore a year earlier.
The results beat analyst estimates. Revenue in its cement business rose 9.3 per cent to Rs 3,401.27 crore, helped by a price hike. Sales in the ready-mix concrete business went up around 10 per cent to Rs 285 crore. During the quarter, the company launched two cement products ACC Suraksha and ACC HPC (high performance cement).