ACC profit more than triples on one-time tax gain

  • ACC received a tax credit of 3.91 billion in the quarter
  • ACC's standalone net profit rose to 7.30 billion for the third quarter, compared with 2.05 billion a year earlier

BENGALURU: Cement maker ACC Ltd posted on Tuesday a more than three-fold jump in profit for the quarter, as the company recorded a tax credit.

Standalone net profit rose to 7.30 billion ($101.78 million) for the quarter ended Dec. 31, compared with 2.05 billion a year earlier, the company said.

Analysts on average had expected ACC, a unit of the world's largest cement maker LafargeHolcim Ltd, to post a profit of 2.83 billion, according to Refinitiv data.

Sales jumped nearly 11 percent to 37.89 billion.

ACC received a tax credit of 3.91 billion in the quarter.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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