ACC Ltd Sees Profit Surge in Q3: Driven by Expansion and Efficiency

ACC Ltd has reported a significant increase in net profit for the third quarter of 2024, driven by strategic focus on volume growth and operational efficiency. The results also reflect the impact of recent acquisitions, government incentives, and favorable market trends in the cement industry.

Cement manufacturer ACC Ltd announced a substantial increase in net profit to Rs 1,091.8 crore for the quarter ending December 2024, up from Rs 537.67 crore in the previous year. The revenue rose to Rs 5,207.3 crore from last year's Rs 4,855.22 crore, largely supported by strategic expansions and operational efficiencies.

The company's financial results reflect the recent acquisition of 55% of Asian Concretes and Cements, with consolidated finances now including its step-down subsidiary Asian Fine Cements. Additionally, ACC received a significant government refund worth Rs 720.09 crore, leading to a reported income increase during the quarter.

CEO Ajay Kapur highlighted the company's focus on innovation and sustainability as key growth drivers, amidst positive sector outlook with expected demand acceleration in Q4 FY25, spurred by favorable government infrastructure spending.

(With inputs from agencies.)