ACC Ltd's net profit up y-o-y by 216%

26 Apr 2024 , 07:24 AM

ACC Ltd ‘s net profit in the March quarter increased y-o-y by 216% to ₹749 crore. It was ₹237 Crore in the same period last year.

On a stand-alone basis, its sales were ₹5,398 Crore, up 13% over the previous year.

Comparing the quarter’s net profit to the same period last year, it increased by 300% to ₹945 Crore on a consolidated basis. From ₹4,791 Crore to ₹5,409 Crore, the total revenue from operations increased for the previous year.

A dividend of ₹7.50 per equity share with a face value of ₹10 was declared by the Adani Group corporation.

According to ACC, its combined EBIT for the quarter was ₹721 Crore, up from ₹411 Crore in the corresponding period the previous year. Additionally, the EBIT margin increased from 8.6% in Q4 FY23 to 13.3% in Q4 FY24.

“Outlook for cement industry remains positive based on higher budgetary allocation to infrastructure and construction and government’s push for affordable housing along with green energy transition, demand-supply dynamics, and greater consolidation,” the business stated in a statement.

According to a sector report released on April 23 by markets analytics firm Crisil, cement volume growth rebounded to a healthy 7-8% on-year in the final quarter of fiscal 2024, driven by an aggressive volume push, following a ~15% on-year growth in the first half and a moderate slowdown in the third quarter due to regional obstacles.

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