ACC Q3 Net Profit at Rs 10.91 Bn, Revenue Reaches Rs 52.07 Bn
Cement

ACC Q3 Net Profit at Rs 10.91 Bn, Revenue Reaches Rs 52.07 Bn

Cement manufacturer ACC reported a net profit of Rs 10.91 billion for the third quarter ending December 2024, a significant increase from the Rs 5.37 billion profit posted during the same period last year. The company’s revenue from operations reached Rs 52.07 billion in the current quarter, compared to Rs 48.55 billion a year ago.

The results for the quarter are not directly comparable to last year’s figures due to ACC’s acquisition of the remaining 55 per cent of Asian Concretes and Cements (ACCPL) and its step-down subsidiary, Asian Fine Cements. The consolidated financial results for this quarter include those of ACCPL.

Additionally, ACC received a Rs 7.20 billion refund from the government as an excise duty exemption on clinker consumption for the period from May 2005 to February 2013. This refund follows a ruling in ACC’s favour by the Customs, Excise, and Service Tax Appellate Tribunal. Of this amount, Rs 6.36 billion was recognised as income in the current quarter and the nine months ending December 31, 2024.

The company’s total expenses for the December quarter stood at Rs 50.99 billion, while its total income was Rs 65.75 billion. The revenue from the cement business was Rs 56.14 billion, and from Ready Mix Concrete, it was Rs 3.44 billion.

ACC attributed its performance to volume growth, cost optimization, and improved efficiency. The company expects continued growth, driven by demand for premium cement products and a focus on innovation and sustainability.

Looking ahead, ACC anticipates that the cement sector, which experienced modest growth of 1.5-2 per cent during the first half of FY25, will rebound in the fourth quarter as construction activity accelerates in the infrastructure and housing segments. The company projects cement demand growth of 4-5 per cent for FY25, supported by the pro-infrastructure and housing measures in the 2025 Budget and increased government spending on infrastructure projects. News source: ET Energy

Cement manufacturer ACC reported a net profit of Rs 10.91 billion for the third quarter ending December 2024, a significant increase from the Rs 5.37 billion profit posted during the same period last year. The company’s revenue from operations reached Rs 52.07 billion in the current quarter, compared to Rs 48.55 billion a year ago. The results for the quarter are not directly comparable to last year’s figures due to ACC’s acquisition of the remaining 55 per cent of Asian Concretes and Cements (ACCPL) and its step-down subsidiary, Asian Fine Cements. The consolidated financial results for this quarter include those of ACCPL. Additionally, ACC received a Rs 7.20 billion refund from the government as an excise duty exemption on clinker consumption for the period from May 2005 to February 2013. This refund follows a ruling in ACC’s favour by the Customs, Excise, and Service Tax Appellate Tribunal. Of this amount, Rs 6.36 billion was recognised as income in the current quarter and the nine months ending December 31, 2024. The company’s total expenses for the December quarter stood at Rs 50.99 billion, while its total income was Rs 65.75 billion. The revenue from the cement business was Rs 56.14 billion, and from Ready Mix Concrete, it was Rs 3.44 billion. ACC attributed its performance to volume growth, cost optimization, and improved efficiency. The company expects continued growth, driven by demand for premium cement products and a focus on innovation and sustainability. Looking ahead, ACC anticipates that the cement sector, which experienced modest growth of 1.5-2 per cent during the first half of FY25, will rebound in the fourth quarter as construction activity accelerates in the infrastructure and housing segments. The company projects cement demand growth of 4-5 per cent for FY25, supported by the pro-infrastructure and housing measures in the 2025 Budget and increased government spending on infrastructure projects. News source: ET Energy

Next Story
Real Estate

Mahindra Lifespaces Bags Rs 12.5 billion Redevelopment in Mulund

Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has been appointed as the preferred developer for the redevelopment of a premium housing society in Mulund (West), Mumbai. The project will be developed across a 3.08-acre land parcel, with an estimated development value of approximately Rs 12.5 billion. Strategically located, the site enjoys proximity to major connectivity points—just 1.4 km from the upcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road. It also offers seamless access to the Eastern Expre..

Next Story
Infrastructure Urban

Snowman Adds Warehouses in Kolkata and Krishnapatnam

Snowman Logistics, India’s leading integrated temperature-controlled logistics company, has announced the commencement of operations at its two new state-of-the-art, owned cold storage facilities in Kolkata and Krishnapatnam. With these additions, the company’s total pallet capacity has reached 1,50,754, spanning 43 warehouses in 20 cities across the country. The newly operational Kolkata facility offers a storage capacity of 5,630 pallets, while the Krishnapatnam facility holds 3,927 pallets. These warehouses are equipped with advanced automation and infrastructure designed to enhanc..

Next Story
Resources

Noesis Enables IHCL Hotel Deal in Udupi–Manipal Corridor

NOESIS Capital Advisors, India’s leading hotel investment advisory firm, has successfully facilitated a landmark hospitality transaction in the Udupi–Manipal region of Karnataka. The deal involves the acquisition of a nearly completed, 130-key upscale hotel that will operate under one of the premium brands of IHCL, reinforcing NOESIS’ position as a preferred partner for strategic hospitality transactions across India. Strategically located on the Udupi–Manipal Highway, the 1.03-acre property will cater to business travellers, pilgrims and families visiting Manipal University. With..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?