Mumbai:ACC Ltd, India’s biggest cement maker, said net profit in the quarter ended 31 March 2007, rose 55% on rising demand and higher prices.
Net profit rose to Rs364 crore ($86 million) from Rs235 crore a year earlier, the Mumbai-based company said in a statement to the Bombay Stock Exchange on 19 April. Profit met the Rs364 crore median estimate of seven analysts surveyed by Bloomberg News.
Sales rose by a fourth to Rs1,675 crore from Rs1,342 crore. The estimate in the Bloomberg survey was for Rs1,678 crore.