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Our Bureau

Mumbai , Jan. 20

HIGHER sales and better price realisation enabled Associated Cement Companies Ltd (ACC) to report a 138 per cent increase in net profit at Rs 53.08 crore for the third quarter ended December 31, 2004 compared with Rs 22.32 crore for the year-ago period.

Total income for the period rose 24.83 per cent to Rs 987.61 crore from Rs 791.17 crore.

Total sales of cement have gone up to 41.84 lakh tonnes from 36.35 lakh tonnes. Income from operations increased to Rs 1,118.31 crore (Rs 905.77 crore).

A company official has attributed the higher profit mainly to containment of overall costs. He said though the increase in prices of coal, gypsum, diesel and freight have put pressure on costs, it was neutralised through improved operating efficiencies.

The consolidated net profit of the group was Rs 53.30 crore for the third quarter of 2004-05 against Rs 23.20 crore for the same quarter last fiscal.

According to the company, the cement sector has posted a growth of 7 per cent for the nine-month period ended December 31, 2004 against 5.3 per cent in the year-ago period.

With the continued growth in housing sector and increased emphasis on rural infrastructure development, the sector is expected to maintain its growth momentum during the remaining period of the year.

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