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ACC, the cement company owned by LafargeHolcim, has reported that its net profit down seven per cent in March quarter at ₹323 crore against ₹346 crore logged in the same period last year due to lower sales.
Sales were down 11 per cent at ₹3,433 crore (₹3,850 crore) while sales volume was down 12 per cent at 6.56 million tonnes against 7.46 mt due to Covid-19 pandemic.
The company witnessed weak offtake during the quarter due to the nationwide lockdown from March 24 to control spread of Covid-19.
Operating Ebitda for the quarter registered a growth of 10 per cent to ₹586 crore (₹532 crore).
Input cost of raw materials were lower on account of better material source mix optimisation and supply chain efficiencies.
Despite uncertainty surrounding the pandemic and lockdown restrictions, the company believes that post- lockdown, supportive measures and government stimulus and RBI concessions to spur demand growth notably in the infrastructure segment, said Sridhar Balakrishnan, Managing Director & CEO, AÇC.
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