The Hindu Business Line : ACC fourth quarter net doubles to Rs 358 cr

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Mumbai Feb. 1 ACC Ltd reported that its standalone net profit for the fourth quarter of the fiscal doubled on improved sales volumes and realisation.

Net profit for the quarter ended December 31, 2006, amounted to Rs 358 crore, against Rs 173 crore in the same year-ago quarter.

Net sales rose 50 per cent, to Rs 1,619.9 crore, while total expenditure grew 26 per cent, to Rs 1,151 crore.

EBITDA nearly tripled, at Rs 527 crore, (Rs 189.5 crore).

On a consolidated basis, the company's net profit for the year ended December 31, 2006, grew 78 per cent to Rs 1,239.6 crore (Rs 696 crore).

Sales volumes increased 7.8 per cent. The company sold 18.86 million tonnes of cement against 17.50 mt a year ago. Sales revenue rose 28 per cent to Rs 5,851 crore.

Noting that the cement industry recorded a growth of 11.3 per cent in calendar year 2006 against 9.4 per cent a year ago, the company said that the industry will continue to fare well in the currentcalendar year, given the emphasis on housing, infrastructure, and special economic zones.

The Board recommended a dividend of Rs 15 per share.

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