ACC Net Profit Rises 74% To Rs 563 Crore In March Quarter

The nation’s main cement producer – ACC – on Monday reported internet revenue of Rs 563 crore in quarter ended March 2021, that marked a rise of 74 per cent from revenue of Rs 323 crore throughout the identical quarter final 12 months. Its income from gross sales rose 23 per cent to Rs 4,213 crore towards Rs 3,433 crore within the 12 months in the past interval.

During the quarter ACC registered gross sales quantity of 6.97 million tonnes in contrast with 6.56 million tonnes within the March quarter of 2020.

The firm’s working revenue or earnings earlier than curiosity, tax, depreciation and amortization (EBITDA) jumped 47 per cent to Rs 860 crore and working revenue margin or EBITDA margin improved by 330 foundation factors to twenty.4 per cent from 17.1 per cent within the 12 months in the past interval.

“The company believes that the government is taking all possible steps to intensify the vaccination program and control the spread of Covid. With government’s increased pending and its strong focus on infrastructure development, we maintain a cautious yet positive outlook for overall cement demand in the coming months,” ACC mentioned whereas giving outlook demand outlook for the cement sector.

During the quarter, ACC commissioned a big new grinding unit at Sindri Industrial Township in Dhanbad district of Jharkhand, including a capability of 1.4 million tonnes every year.

“We have demonstrated strong resilience which has been reflected in our performance this quarter. We aim to continue driving the four stated strategic priorities: performance, growth, innovation and sustainability,” mentioned Sridhar Balakrishnan, Managing Director and CEO.

“With the government’s increased spending and its strong focus on infrastructure development, we maintain a cautious yet positive outlook for overall cement demand in the coming months,” Mr Balakrishnan added.

ACC shares ended 0.26 per cent decrease at Rs 1,876 forward of the earnings announcement.