- Cement Volume growth at 10% - Ready mix concrete volume growth at 12% - Net Sales up by 10% to Rs. 3364 Cr - Operating EBITDA improved by 7% toRs. 444 Cr - Profit Before Tax and Profit After Tax grew by 16% & 15%respectively
"We have delivered healthy volume growth at 10% and revenue growth of 10% year-on-year. Net profit grew 15% demonstrating that our strategy of pursuing profitable growth and productivity improvement is paying off, as is our focus on value-added premium products designed to address specific customer needs. Despite continuing input cost headwinds, ACC has delivered consistent positive financial performance. We are also encouraged by the government's push on infrastructure and affordable housing which is driving growth in cement demand", said Neeraj Akhoury, Managing Director & CEO.
The company grew cement sales volumes by 10% during the quarter spurred by higher demand. Net sales during the quarter rose by 10% to Rs. 3364 Crore compared to Rs. 3054 Crore for the same quarter last year.
The company's Ready Mix concrete sales volumes grew 12% driven by an increase in the sale of value added products and the addition of 8 new plants across the country.
While costs of input materials such as coal, petcoke, diesel and slag continued to increase, they were partly offset by improvements in operating efficiencies and productivity.
ACC will continue to maintain its focus on operating efficiencies to improve performance. Demand drivers including growth in affordable and rural housing segments as well as infrastructure projects will remain healthy. We are optimistic that cement demand growth will strengthen in the coming year.
Shares of ACC LTD. was last trading in BSE at Rs.1517.6 as compared to the previous close of Rs. 1551.15. The total number of shares traded during the day was 44631 in over 2172 trades.
The stock hit an intraday high of Rs. 1578.85 and intraday low of 1515.35. The net turnover during the day was Rs. 69671872.