BackACC Q4 Results: Consolidated PAT falls 40% to ₹235 cr, check dividend here
The company has declared a dividend of Rs. 9.25 per equity Share of Rs. 10 for the financial year ended March 31, 2023
PremiumACC Ltd on Thursday reported 40.5 per cent decline in consolidated net profit to ₹235.63 crore for the March 2023 quarter. This is against a net profit of ₹396.61 crore in the corresponding quarter last fiscal.
The revenue from operations rose by 8.2 per cent to ₹4,790.9 crore for the quarter under review as compared to ₹4,425.54 crore in the year ago period.
The company has declared a dividend of Rs. 9.25 per equity share of ₹10 each (fully paid-up) for the financial year ended March 31, 2023. The record date for the dividend payment has been set as 7 July 2023.
The volume increased by 9 per cent quarter-on-quarter (QoQ) at 8.5 MT, supported by an increase in blended cement (clinker factor reduced from 56.1% to 54.8%), better route planning and higher operational synergies with parent, Ambuja Cements Limited.
The reported Ebitda at ₹588 crore was down 15.5% on a year-on-year basis though on sequential basis improved more than 40%. Ebitda stands for Earnings before interest tax depreciation and amortisation. Ebitda margin expanded from 9.3% to 12.3% on cost optimization.
ACC said that while Fuel cost is on a declining curve, Ebitda is lower year-on-year due to higher fuel cost compared to last year. Fuel cost is expected to further reduce in the coming months through synergies with the Group.
“Our transformation journey fuelled by sizeable operational efficiencies, improved synergies and business excellence has led to substantial improvement in our financial performance and overall business indicators. We have a detailed blueprint on each of the cost factors and initiatives to reduce & improve. This along with capex program will position the Company back into growth momentum synonymous with its legacy. We have consistently included sustainability in all our operational and growth planning," said Ajay Kapur, Whole Time Director & CEO, ACC Limited.
Shares of ACC Ltd on Thursday settled at ₹1,747.10 on the BSE, up 0.51 per cent from the previous close.
Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
