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ACC March Quarter Profit Beats Estimates On Higher Cement Sales Volume

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ACC March Quarter Profit Beats Estimates On Higher Cement Sales Volume

Analysts on average were expecting a profit of Rs 162 crore, according to Thomson Reuters data.

ACC Ltd, a unit of the world's largest cement maker, Lafargeholcim Ltd, reported a 9 per cent fall in its first-quarter net profit, but beat analysts' expectations, helped by stronger cement sales volume. Consolidated net profit fell to Rs 211 crore ($32.67 million) for the quarter ended March 31, from Rs 232 crore a year earlier, the company's third profit drop in four quarters. Total revenue from operations grew 9 per cent to Rs 3,631 crore.

Analysts on average were expecting a profit of Rs 162 crore, according to Thomson Reuters data.

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Sales volume at the company's cement segment rose 4 per cent in the quarter as impact from government's move to withdraw high-denomination notes declined, the company said.

($1 = Rs 64.5950)
© Thomson Reuters 2017


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