ACC reported a 9 per cent drop in consolidated net profit at Rs.400 crore for the first quarter ended March 2014.
The profit includes a write-back of Rs.113 crore on the conclusion of the earlier year’s assessments, and it was higher at Rs.141 crore in the same period of the previous year, a company statement said. The company attributed the drop to higher input costs and lower realisations. “Our manufacturing costs faced escalations in the cost of our major inputs, namely, coal, fly ash and gypsum,” ACC said.
“In the first quarter, the industry did not experience any significant improvement in the pace of infrastructure development and general construction. With no uptrend in the demand for cement, sales volume was at about the same level as in the corresponding period of previous year,” the company said.
Sales volumes were almost unchanged at 6.48 million tonnes (6.42 million tonnes), while turnover rose marginally to Rs.2,967 crore from Rs.2,906 crore.
Operating profit during the quarter was lower at Rs.425 crore against Rs.492 crore.
“On the positive side,’’ ACC said, “We continued to derive benefit from our ongoing cost leadership efforts and increased sales volume of premium products”.
The company said it did not foresee any significant improvement in the cement market in the near-term but it said it “would continue to drive cost leadership and customer excellence programmes to enhance sales realisations and improve margins”.Bharti Infratel
Bharti Airtel’s tower business unit Bharti Infratel on Thursday reported a 64 per cent jump in its consolidated net profit at Rs.472 crore for the fourth quarter ended March 31, 2014, on the back of increased number of tenants on towers and other income.
The company, in which Bharti Airtel has around 80 per cent stake, had reported a net profit of Rs.287 crore in the year ago period.
Revenues grew 4 per cent to Rs.2,790 crore from Rs.2,674 crore.
For 2013-14, the company reported a net profit of Rs.1,518 crore as compared to Rs.1,003 crore.
Revenues were up by 5 per cent at Rs.10,827 crore against Rs.10,272 crore in 2012-13.