New Delhi: Cement maker ACC Thursday reported 38.61 percent rise in consolidated net profit at Rs 455.68 crore for the quarter ended 30 June, 2019 helped by an improvement in operating performance and sales.
The company, which follows January-December financial year, had posted a profit of Rs 328.74 crore in April-June quarter a year ago, ACC said in a BSE filing.
Total revenue from the operation was also up 7.83 percent to Rs 4,149.82 crore during the quarter under review as against Rs 3,848.25 crore in the year-ago period.
"Despite subdued cement demand, our strong customer relationships, loyal channel network and range of innovative products have helped us deliver a robust quarter. Our ready mix concrete business grew strongly aided by eight new ready mix concrete plants in this quarter," ACC Managing Director & CEO Neeraj Akhoury said.
Total expenses of the company were at Rs 3,533.55 crore as against Rs 3,399.63 crore in the year-ago period.
During the June quarter, cement sales volume was flat at 7.2 million tonne. However, the sales volume of ready mix concrete was up 10.38 percent to 0.85 million cubic metres from 0.77 million cubic metres earlier.
For January-June 2019, ACC profit was up 38.43 percent to Rs 801.70 crore as against Rs 579.13 crore in the year-ago period.
Total revenue from operation for the six-month period was at Rs 8,068.93 crore, up 7.97 percent from Rs 7,472.84 crore in January-June 2018.
ACC stock Thursday settled at Rs 1,567.20, down 1.68 percent from the previous close on BSE.
Updated Date: Jul 18, 2019 19:55:59 IST