ACC reports net loss of Rs 870 million for September quarter

19 Oct 2022 CW Team

ACC reported a consolidated net loss of Rs 873.2 million for the September quarter due to a significant increase in fuel costs. According to reports, the company earned Rs 4.5 billion in profit during the same quarter last year. However, total revenue from operations increased 6.42 per cent to Rs 40.57 billion in July-September, compared to Rs 38.12 billion in the same period last year. The company's EBITDA in the quarter was Rs 160 million, primarily due to a sharp increase in fuel costs compared to Rs 7.12 billion previously. Total ACC expenditure was Rs 41.62 billion, up 29.88 per cent from Rs 32.04 billion in July-September 2021. In the current quarter, ACC's cement sales volume increased to 6.85 million tonnes (MT) from 6.57 MT the previous year.

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