ACC reports 68% March quarter net profit fall to 238cr
Business
ACC (yep, the cement giant from the Adani Group) just reported a sharp 68% drop in net profit for the March quarter, down to ₹238 crore from last year's ₹751 crore.
Even with an 18% jump in revenue, higher costs and lower selling prices made profits tumble.
ACC posts record volumes, declares dividend
Despite the dip, ACC actually sold more cement than ever: sales volumes rose 8% to a record 11.9 million metric tons.
ACC declared a ₹7.50 per share dividend and fixed June 12 as the record date.
The company's also ramping up capacity through expansion at Salai Banwa (UP) and Kalamboli (Maharashtra), adding 3.4 mtpa in the June quarter, and its merger with Ambuja Cement is expected to be completed this fiscal, pending approvals.