Sluggish market cuts ACC's Q2 net profit

Sluggish market cuts ACC's Q2 net profit

For July-September quarter, ACC's consolidated net profit stood at Rs 118.90 crore, which is half when compared to last fiscal profit. Sluggish market conditions resulted in lower realisations, the company stated. ACC, in which Swiss building material major Holcim has the majority stake, had clocked Rs 241.96 crore net profit in the corresponding quarter last fiscal. The company said in a statement that operating EBITDA in the third quarter declined to Rs 286.56 crore against Rs 466.07 crore in the corresponding quarter of the preceding year.

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