ACC reports over 2-fold jump in consolidated net profit in Q3

Cement maker ACC on Tuesday reported over twofold jump in consolidated net profit at Rs 181.53 crore for the quarter ended September 30. It had posted a net profit of Rs 89.73 crore in the corresponding quarter last year.

Consolidated total revenue from operations jumped 9.62 per cent year-on-year to Rs 3,116.49 crore during the quarter under review against Rs 2,842.93 crore in the same quarter last year.

Total expenditure of the company stood at Rs 2,877 during July-September period over Rs 2,735.57 crore in the same period last year.

Shares of the company were trading 1.20 per cent up at Rs 1,806.40 around 2.43 pm (IST). Shares of the company opened at Rs 1,798.85 and touched a high and low of Rs 1,815.20 and Rs 1,769.95, respectively, in trade so far.

“ACC results demonstrate our capacity to respond quickly and resolutely to changing market dynamics and execute strategies with focus and determination. Our approach to customers and operational efficiencies is taking shape with a positive impact on results,” said Neeraj Akhoury, MD & CEO, ACC in a release.

For the nine-month period ended September 30, ACC reported a net profit of Rs 718.82 crore against Rs 567.50 crore in the same period last year.