ACC Q4 net up to Rs 358 crore

MUMBAI: Cement major ACC has posted a sharp rise in its fourth quarter net profit at Rs 358.5 crore due to a surge in cement prices. Revenues increased 50% to Rs 1619.9 crore .

ACC, which follows the calendar year, showed a 78% growth in net profit to Rs 1,239.6 crore for the entire year, while revenues rose 28% to Rs 5,851.2 crore.

ACC is India���s second largest cement-maker with a total capacity of about 20 million tonnes spread all over the country and mainly in the east where demand has been rising due to increased construction activity. The company said cement sales volumes during the year grew 7.8% to 18.86 million tonnes, which, combined with higher prices, led to improved profitability.

However, results for the full fiscal year include figures of Tarmac (India), which was merged with ACC from January 1, 2006. So, the results for Q4 and year ended December 31,2006, are not comparable with the corresponding previous quarter and year. The operations of Tarmac resulted in a profit of Rs 4 lakh during current year as compared to Rs 123 lakh loss during corresponding previous period.

Also, during the previous financial year, ACC divested certain non-core businesses, while merging cement businesses carried on by its subsidiaries with itself.