ACC profit dives 69% on lower realisation; to focus on cost cutting

Our Bureau | | Updated on: Feb 10, 2016

ACC has reported 69 per cent fall in the December quarter net profit at ₹102 crore (₹326 crore) due to lower realisation. Net sales were up three per cent at ₹2,846 crore (₹2,762 crore).

The company has declared a final dividend of ₹6 and announced book closure from February 24 to 29.

Cement volumes were up four per cent at 6 million tonnes (5.77 mt).

The company is focusing on cost cutting measures as the contribution to District Mineral Foundation and higher royalty after the enactment of Mines and Minerals (Development) Amendment Act. Though the road freight rates reduced during the quarter, it was partially set off by increase in rail tariff, said the company.

ACC is expecting to complete the expansion at Jamul in Chhattisgarh by end of June quarter. The project includes a clinker and grinding facility at Jamul and new grinding unit at Sindri in Jharkhand.

Shares of the company were down 0.74 per cent at ₹1,269 on Wednesday.

Published on February 10, 2016
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