ACC shares fall; Q2 net dips 45% to Rs 133 cr

NEW DELHI: Shares of ACC fell 3.4 per cent in intraday trade on Monday after the cement company on Friday reported a 45 per cent drop in its consolidated net profit at Rs 133.5 crore for the second quarter ended June 30, on account of challenging market conditions and subdued demand.

The stock pared some losses toward the close of the session to end the day at Rs 1,455.55, down 1.92%, on the BSE.

The firm, which follows January-December as fiscal year, had posted a net profit of Rs 243.2 crore in the corresponding quarter a year-ago, it said in a regulatory filing.

Total consolidated income fell marginally by 1.5 per cent to Rs 3,015.3 crore in April-June quarter from Rs 3,059.9 crore in the same quarter of 2014 fiscal year, it added.