ACC shares gain nearly 4% after earnings announcement

Shares of cement maker ACC rose nearly 4 per cent on Tuesday after the company reported a 20.25 per cent increase in consolidated net profit for the quarter ended September 30. The stock jumped 3.78 per cent to Rs 1,622 -- its 52-week high -- on the BSE.

On the NSE, it gained 3.80 per cent to Rs 1,622.10 -- its one year high.

The company on Monday reported a 20.25 per cent increase in consolidated net profit to Rs 363.85 crore for the third quarter ended September 30.


The company, which follows January-December financial year, had posted a profit of Rs 302.56 crore in the same quarter a year ago, ACC said in a BSE filing.

Its total revenue from operations was marginally up to Rs 3,537.31 crore during the quarter under review as against Rs 3,528.31 crore in the year-ago period.

ACC Managing Director and CEO Sridhar Balakrishnan said its "volumes and sales have bounced back to prior-year levels. Our efficiency and cost reduction plans have helped drive significant margin expansion during the quarter".