ACC Q3 net dips 8% at Rs259.98 cr

ACC Q3 net dips 8% at Rs259.98 cr

Mumbai: Cement manufacturer ACC Ltd said that its consolidated net profit for July-September quarter fell 7.7% to Rs259.98 crore, from the corresponding year-ago period.

The total income for quarter under review rose to Rs1,979.51 crore, from Rs1,741.38 crore for the same quarter last fiscal, ACC said in a filing to the Bombay Stock Exchange (BSE).

Meanwhile, the company said that cement consumption is likely to decline in the coming months, particularly in the housing sector.

During the September quarter, the company sold 4.86 million tonnes of cement, against 4.68 MT in the year-ago period.

“We foresee challenging times ahead of us, in respect of markets, investment and input costs," it added.

On the standalone basis, the company posted a net profit of Rs283.43 crore in Q3 of current fiscal, a marginal decline from the third quarter of FY’08.

The standalone total income stood at Rs1,870.65 crore in the current fiscal.

For the nine months ended 30 September, the cement maker reported a net profit of Rs839.37 crore, a 14.5% decline, while its sales turnover rose to Rs5,730.37 crore.

ACC was trading at Rs440.55, down 2.57% in the late afternoon trade on the BSE.