ACC reports 24% on-year jump in net profit; sales up 5% at Rs 3,653 cr

“I am confident that our relentless focus on execution of cost efficiency and capacity expansion projects will enable us to deliver strong shareholder value,” Managing Director and Chief Executive Officer Sridhar Balakrishnan said

ACC reported net sales at Rs 3,653 cr, which was up 5 per cent against the previous year. Source: Reuters

ACC Limited reported a 24 per cent on-year rise in its consolidated net profit for the quarter ended 30 September 2021. The Profit After Tax (PAT) stood at Rs 450 cr for the reporting quarter versus Rs 364 cr recorded during the same quarter in FY21.

Meanwhile, EBIT or Earnings Before Interests and Taxes was higher by 10 per cent at Rs 562 cr. It is an indicator of company’s profitability.

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ACC reported net sales at Rs 3,653 cr, which was up 5 per cent against the previous year.

The company said that its solid performance” during the quarter was on the back of operational excellence and focus on sustainability. This was despite a steep increase in fuel costs.

“I am confident that our relentless focus on execution of cost efficiency and capacity expansion projects will enable us to deliver strong shareholder value,” Managing Director and Chief Executive Officer Sridhar Balakrishnan said.

Outlook

“Economic activity is gaining momentum driven by accelerated progress in vaccination drive and reduction in Covid cases. We believe that Government impetus on infrastructure and housing will augur well for cement demand in the next quarters. We are positive that the cement sector would benefit from increasing demand in various sectors such as housing, commercial and industrial construction,” the company said in its exchange filing.

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