Cement major ACC reported an 8.9 percent drop in its March quarter consolidated net profit at Rs 211.1 crore against Rs 231.7 crore posted during the same period last year, dented by weak operational performance.
The consolidated total income was up 9.3 percent at Rs 3,631.1 crore against Rs 3,323.2 crore year-on-year, aided by volume growth.
ACC follows January-December as its financial year.
Consolidated operating profit was down 5.7 percent year-on-year at Rs 416.8 crore and margin contracted by 180 basis points at 11.5 percent in the quarter gone by.
Meanwhile, its cement sales volume was up 3.8 percent at 6.6 million tonnes against 6.36 million tonnes YoY, while the concrete sales volume was up 7.5 percent at 0.72 MT against 0.67 MT YoY. The volume growth was also due to higher sales from expanded capacity, the company said.
The company, in a notification to the exchanges, said that the growth of premium cement products volume was up 16 percent YoY. Furthermore, cement volume showed growth as impact of demonetisation declined.ACC expects government’s infrastructure spending to boost cement demand.