New Delhi: Cement maker ACC Ltd on Tuesday reported over two-fold jump in its consolidated net profit to Rs 181.53 crore for the third quarter ended September 30, mainly driven by increased productivity and cost optimisation.
The company, which follows January-December fiscal year, had clocked a net profit of Rs 89.73 crore in July-September quarter a year ago, ACC Ltd said in a BSE filing.
Its consolidated sales was up 9.42 per cent at Rs 3,140.76 crore during the quarter under review as against Rs 2,870.35 crore in the corresponding period a year ago.
"This strong result has been achieved through an increased focus on premium products, improved customer service levels and relentlessly driving productivity and cost optimisation," ACC MD Neeraj Akhoury said.
During the quarter, ACC's cement sales stood at 5.96 million tonnes (MT), up 17.55 per cent, compared to 5.07 MT. The company's total expenses was rose by 5.17 per cent to Rs 2,877.00 crore as against Rs 2,735.57 crore.
In July-September quarter, revenue from cement division was up 8.84 per cent to Rs 2,883.01 crore compared to Rs 2,648.80 crore in the year-ago period. Its revenue from ready mix concrete stood at Rs 285.95 crore compared to Rs 240.13 crore in the same period last year, representing a rise of 19.08 per cent.
Over the outlook, the company said: "We expect that demand for cement and related products will stay favourable in the coming quarter spurred by the government's increased spending on infrastructure".
Shares of ACC Cement closed at Rs 1,804.00 apiece, up 0.45 per cent from previous close.
