ACC’s Profit Jumps 73% In Q3 FY21

Cement maker ACC Ltd on 11th February reported a 72.88 per cent increase in consolidated net profit to Rs 472.44

BY Realty Plus
Published - Saturday, 13 Feb, 2021

Cement maker ACC Ltd on 11th February reported a 72.88 per cent increase in consolidated net profit to Rs 472.44 crore for the fourth quarter ended December 31. The company, which follows the January-December financial year cycle, had posted a profit of Rs 273.28 crore in the corresponding quarter a year ago, ACC said in a BSE filing. Its total revenue from operations in October-December 2020 rose 2.08 per cent to Rs 4,144.72 crore, against Rs 4,060.31 crore in the year-ago period. ACC’s total expenses were at Rs 3,747.64 crore, up 1.03 per cent as against Rs 3,709.42 crore a year ago. Its revenue from cement was up 4.63 per cent to Rs 3,876.54 crore, against Rs 3,704.94 crore of the corresponding quarter. While ready mix concrete was down 19.5 per cent to Rs 312.93 crore, against Rs 388.89 crore. Meanwhile, ACC also informed that its board on Thursday recommended a payment of a dividend of Rs 14 per equity share of Rs 10 each (fully paid-up) for the financial year ended December 31, 2020. Shares of ACC Ltd on 11th February settled at Rs 1,776.25 on the BSE, up 0.65 per cent from the previous close.