Comments
Cement manufacturer ACC Ltd has reported a 10.87 per cent dip in consolidated net profit for the January-March quarter of the current fiscal to Rs 350.17 crore due to higher input and transport costs.
“While the company’s operations benefited from better volumes, realisation remained challenged by steep escalations in input costs,” the company said in a statement today.
The net profit stood at Rs 392.88 crore during the same quarter in the previous fiscal.
“Manufacturing costs rose sharply as a result of increases in the cost of energy and raw materials like fly ash and slag. Coal became dearer both in domestic and international markets. Transport costs also suffered,” ACC said.
During the quarter under review, the company’s sales turnover rose to Rs 2,556.21 crore from Rs 2,240.33 crore in the corresponding quarter last fiscal.
ACC sold 6.16 million tonnes of cement during the quarter compared with 5.58 million tonnes in the January-March quarter of last fiscal.
On a consolidated basis, consumption of raw material went up to Rs 470.08 crore from Rs 334.35 crore and freight charges to Rs 343.32 crore (Rs 274.14 crore).
ACC maintained a “healthy outlook” for overall growth in demand for cement during the year and expected to remain well-placed to benefit from that.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.