ACC's Q4 Net Profit Skyrockets 400% to Rs 945 Crore

Cement maker ACC on Thursday said its profit after tax PAT increased four-fold to Rs 945 crore in the March quarter of the previous fiscal year on account of robust sales. The company had reported a PAT of Rs 236 crore in the year-ago period.

Cement maker ACC on Thursday said its profit after tax (PAT) increased four-fold to Rs 945 crore in the March quarter of the previous fiscal year on account of robust sales. The company had reported a PAT of Rs 236 crore in the year-ago period. Revenue from operations rose to Rs 5,409 crore in the fourth quarter as compared with Rs 4,791 crore in the year-ago period, ACC Ltd said in a regulatory filing.

''The trust of our customers and our commitment to building a sustainable future with investment in efficiency improvements, green power etc. has furthered our success, as we emerge even stronger than before,'' ACC Ltd CEO Ajay Kapur said.

The company, a unit of Ambuja Cements, said its board has recommended a dividend of Rs 7.5 per share.

ACC said the outlook for the 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 company will have the advantage of accelerated growth, lower cost, group synergies which in turn will help to sustainable performance and market leadership, it added.

Shares of the company were trading 0.91 per cent up at Rs 2,581.25 apiece on the BSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)