Shares of the cement maker ACC rose as much as 7 per cent to hit fresh 52-week high of Rs 2,299.05 after it reported strong June quarter earnings. ACC's net profit in April-June period more than doubled to Rs 569 crore from Rs 270 crore during the same period last year. Its revenue from operations during the period advanced 51 per cent to Rs 3,810 crore, ACC said in a stock exchange filing.
ACC's EBITDA or earnings before interest, tax, depreciation and amortization (EBITDA) also known as operating profit jumped 65 per cent to Rs 869 crore and operating profit margin improved by 4.6 percentage points to 19 per cent.
The company's total cement sales volumes advanced 44 per cent annually to 6.84 million tonnes.
ACC had 17 cement plant and 79 ready mix concrete plants across the country.
As of 10:44 am, ACC shares traded 4.65 per cent higher at Rs 2,250, outperforming the Sensex which was down 0.8 per cent.