ACC: net profit falls 4% in Jan-Mar quarter

Apr 29 2016 11:15 AM
ACC: net profit falls 4% in Jan-Mar quarter

On Thursday: Cement maker ACC reported a 4% decline in its consolidated net profit at Rs 226.95 crore for the March quarter.

BSE, “The business, which follows January-December as its fiscal year, clocked a net profit of Rs 236.54 crore in the year-ago period”

Total consolidated revenue fell by 3% to Rs 2,990.60 crore during January-March quarter of 2015-16 fiscal as beside Rs 3,080.13 crore in the similar quarter of 2014-15 fiscal.

The company's cement auctions were higher at 6.36 million tonnes (MT) in the March quarter compared with 5.82 MT in the year-ago period.

On cement, ACC said: "With construction activity picking up especially in infrastructure and housing sectors during the quarter, the demand for cement registered a perceptible increase as compared to the slow pace witnessed in the previous year."

They further added, “On outlook, the firm said it expects acceleration in the government's investment in infrastructure and other urbanisation projects, new schemes and allocations announced in the union budget, especially in roads and housing”

“Softening interest charges is giving boost to housing and the calculation of an above ordinary monsoon this year are all trends that portend well for heightened creation activity and in turn for an rise in demand for both cement and concrete”, it added.

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