Cement major ACC Ltd., on Monday, reported a 32.6% jump in its June quarter consolidated net profits to ₹326 crore, up from ₹246 crore in the corresponding quarter the previous year.
The LafargeHolcim Group company reported a 17.8% growth in its sales to ₹3,329 crore, up from ₹2,827 crore in the same quarter last year.
The operating EBITDA (earnings before interest, taxation, depreciation and amortisation) improved by 38% to ₹637 crore, riding on a 19% margin.
“ACC’s efforts to clarify value prepositions and customer-focused guidance has driven a significantly better commercial performance. The direction for both cement and ready-mix businesses has been to harness current strengths and develop new competencies which resulted in the launch of new brands and sharpened the plant performances. We are confident about the prospects for our company,” said Neeraj Akhoury, MD & CEO, ACC.
The company, he said, continued to be a preferred partner for projects supporting government priorities for infrastructure, affordable housing and smart cities.
The volume growth must be read in the context of challenging market conditions. “The speedy ramp-up of the Jamul integrated project enabled the company to beef up its presence in the eastern region,” a company release said.
ACC board has, in the meantime, approved an interim dividend of ₹11 per equity shareof ₹10 each.
The company’s ready-mix concrete business maintained a ‘positive trend’ and reported a sales volume growth of 6% during the quarter under review, the release said. “The company expects upward trajectory in cement demand, supported by the prospects of a normal monsoon.”
‘GST-ready’
The company said its entire customer and vendor base is “GST-ready” and registered as required.
ACC shares closed at ₹1,751 on the BSE in a flat Mumbai market on Monday, valuing the company at ₹32,866 crore.
