ACC net profit halves to Rs 118.90 cr in Q3; stock tanks

NEW DELHI: ACC Ltd, India's foremost manufacturer of cement and ready mixed concrete, reported over 50 per cent fall in its net profit number for the third quarter of the calendar year 2013 on Wednesday.

ACC reported a consolidated net profit Rs 118.90 crore for the quarter ended September 30, 2013. Analysts polled by ET Now had estimated the cement manufacturer to report 30 per cent fall in its net profit figure to Rs 168 crore.

The net profit for the Holcim Group firm in the same period last fiscal stood at Rs 241.96 crore.

Total Income has decreased from Rs. 2639.80 crore for the quarter ended September 30, 2012 to Rs 2609.04 crore for the quarter ended September 30, 2013.

Reacting to the results, shares of ACC plunged a little over 3 per cent to touch its intraday low of Rs 1100. At 01:35 p.m.; shares of the cement major was trading 2 per cent lower at Rs 1114.82.