ACC first-quarter profit beats estimates on higher cement sales volume | Reuters

India's ACC Ltd, a unit of the world's largest cement maker, Lafargeholcim Ltd, reported a 9 percent fall in its first-quarter net profit, but beat analysts' expectations, helped by stronger cement sales volume.Consolidated net profit fell to 2.11 billion rupees ($32.67 million) for the quarter ended March 31, from 2.32 billion rupees a year earlier, the company's third profit drop in four quarters. (bit.ly/2owUViW)

Total revenue from operations grew 9 percent to 36.31 billion rupees.

Analysts on average were expecting a profit of 1.62 billion rupees, according to Thomson Reuters data.

Sales volume at the company's cement segment rose 4 percent in the quarter as impact from government's move to withdraw high-denomination notes declined, the company said.($1 = 64.5950 Indian rupees) (Reporting By Arnab Paul in Bengaluru; Editing by Sunil Nair)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Apr 21, 2017 22:03 PM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'

Also See