ACC Q3 profit misses expectations as expenses rise
ACC standalone profit was ₹206 crore for the third quarter ended 30 September, compared with ₹178 crore a year earlier
Bengaluru: Cement maker ACC Ltd on Wednesday posted a 15.7% rise in quarterly profit, which fell short of market estimates as expenses rose.
Standalone profit was ₹206 crore ($27.99 million) for the third quarter ended 30 September, compared with ₹178 crore a year earlier, the Mumbai-based company said in a statement.
Analysts on average had expected a standalone profit of ₹234 crore, according to Refinitiv data.
Cement sales volume grew 10% to 6.55 million tonnes in the quarter, while expenses rose 9.8%.
Quarterly sales of the company, which is a unit of the world’s largest cement maker, LafargeHolcim Ltd, grew 10% to ₹3,364 crore.
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