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To up capacity to 30 mt by 2010-end: ACC
Cement major ACC has reported a 32.5% jump in its net profit of Rs 1,607 crore as against Rs 1,212.8 crore. In an interview with CNBC-TV18, Sumit Banerjee, MD, ACC, spoke about the quarter gone by and the road ahead.
Cement major ACC has reported a 32.5% jump in its net profit of Rs 1,607 crore as against Rs 1,212.8 crore. Net sales rose 10.23% to Rs 8,027 crore from Rs 7,282 crore.
The numbers were in-line with expectations; earlier CNBC-TV18 poll saw net profit at Rs 1,669.8 crore and net sales of Rs 8,047 crore. The company's trailing 12-month (TTM) EPS was at Rs 86.63 per share, till the September quarter results of 2009. The stock's price-to-earnings (P/E) ratio stands at 10.14. The book value of the company is Rs 262.46 per share. Price-to-book value of the company was at 3.35.
In an interview with CNBC-TV18, Sumit Banerjee, MD, ACC , spoke about the quarter gone by and the road ahead.
Here is a verbatim transcript of the interview. Also watch the accompanying video.
Q: Why was your profit in line to slightly lower than street expectations?
A: It is good that expectations from our company are rising and I am happy that in a challenging market we have underperformed only slightly as against the expectations. But the results were satisfactory for us and it was also quite satisfying overall for the year.
And for the third quarter as well, which is Q4 for us, it has been only a very marginal dip in the profitability. So I think we have managed our costs well so with volumes not growing, they grew only by about 2.5%, I think it has been a very good performance by the team.
Cement major ACC has reported a 32.5% jump in its net profit of Rs 1,607 crore as against Rs 1,212.8 crore. Net sales rose 10.23% to Rs 8,027 crore from Rs 7,282 crore.
