ACC posts higher Q1 revenues, but profits slide

Financial

ACC posts higher Q1 revenues, but profits slide

14 December, 2020

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Standalone profits fell 13% on higher manufacturing costs.

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ACC Ltd., India-based manufacturer of cement and readymix concrete, reported a drop in its stand-alone net profit for the first-quarter, but an increase in revenue.

Stand-alone Results

The Mumbai-based company's first-quarter stand-alone net profit fell by 13 per cent to Rs.350.66 crore or Rs.18.64 per share from Rs.405.13 crore or Rs.21.53 per share in the corresponding quarter of 2010.

"Manufacturing costs rose sharply as a result of increases in the cost of energy and raw materials like fly ash and slag. Coal became dearer both in domestic and international markets. Transport costs also suffered," ACC said.

Its net revenue for the quarter amounted to Rs.2,398.16 crore, up by 14 per cent from Rs.2,101.81 crore in the prior-year quarter, while other operating income amounted to Rs.25.37 crore, compared with Rs.34.47 crore in the year-ago quarter.

ACC sold 6.16 million tonnes of cement during the quarter, compared with 5.58 million tonnes in the January-March quarter of last fiscal.

Financial