ACC's profit tumbles 60% in April-June, revenue rises 15%
Cement

ACC's profit tumbles 60% in April-June, revenue rises 15%

Cement manufacturer ACC, which was recently bought by the Adani group together with Ambuja Cement in a $10.5 billion deal, announced a 60 per cent year-on-year fall in consolidated profit after tax (PAT) to Rs 2.27 billion for the quarter ended June 30, 2022, on Thursday. According to its financial figures, consolidated PAT amounted to Rs 5.69 billion in the same time the previous year. For the quarter under review, Bloomberg consensus forecasts put net profit at Rs 2.96 billion and sales at Rs 43.9 billion in the previous quarter.

Consolidated revenue for the quarter increased 15 per cent YoY to Rs 44.68 billion, up from Rs 38.85 billion the previous year. On a quarterly basis, sales increased by 0.9 per cent to Rs 44.27 billion. Profit fell 42.6 per cent from Rs 3.96 billion in the preceding quarter. The corporation operates on a January-December fiscal year. According to industry analysts, the June quarter was hurt by a slowing in demand and pricing, as well as higher power and pet coke costs. Earnings before interest, tax, depreciation and amortisation (EBITDA) were Rs 4.31 billion in the June quarter, compared to a Bloomberg consensus expectation of Rs 5.02 billion. According to industry observers, the company's margins were harmed by the drop in EBITDA. EBITDA margins for the June quarter were 9.4 per cent, compared to 22.4 per cent in the same period last year, they revealed.

Cement manufacturer ACC, which was recently bought by the Adani group together with Ambuja Cement in a $10.5 billion deal, announced a 60 per cent year-on-year fall in consolidated profit after tax (PAT) to Rs 2.27 billion for the quarter ended June 30, 2022, on Thursday. According to its financial figures, consolidated PAT amounted to Rs 5.69 billion in the same time the previous year. For the quarter under review, Bloomberg consensus forecasts put net profit at Rs 2.96 billion and sales at Rs 43.9 billion in the previous quarter. Consolidated revenue for the quarter increased 15 per cent YoY to Rs 44.68 billion, up from Rs 38.85 billion the previous year. On a quarterly basis, sales increased by 0.9 per cent to Rs 44.27 billion. Profit fell 42.6 per cent from Rs 3.96 billion in the preceding quarter. The corporation operates on a January-December fiscal year. According to industry analysts, the June quarter was hurt by a slowing in demand and pricing, as well as higher power and pet coke costs. Earnings before interest, tax, depreciation and amortisation (EBITDA) were Rs 4.31 billion in the June quarter, compared to a Bloomberg consensus expectation of Rs 5.02 billion. According to industry observers, the company's margins were harmed by the drop in EBITDA. EBITDA margins for the June quarter were 9.4 per cent, compared to 22.4 per cent in the same period last year, they revealed.

Next Story
Equipment

Handling concrete better

Efficiently handling the transportation and placement of concrete is essential to help maintain the quality of construction, meet project timelines by minimising downtimes, and reduce costs – by 5 to 15 per cent, according to Sandeep Jain, Director, Arkade Developers. CW explores what the efficient handling of concrete entails.Select wellFirst, a word on choosing the right equipment, such as a mixer with a capacity aligned to the volume required onsite, from Vaibhav Kulkarni, Concrete Expert. “An overly large mixer will increase the idle time (and cost), while one that ..

Next Story
Real Estate

Elevated floors!

Raised access flooring, also called false flooring, is a less common interiors feature than false ceilings, but it has as many uses – if not more.A raised floor is a modular panel installed above the structural floor. The space beneath the raised flooring is typically used to accommodate utilities such as electrical cables, plumbing and HVAC systems. And so, raised flooring is usually associated with buildings with heavy cabling and precise air distribution needs, such as data centres.That said, CW interacted with designers and architects and discovered that false flooring can come in handy ..

Next Story
Infrastructure Urban

The Variation Challenge

A variation or change in scope clause is defined in construction contracts to take care of situations arising from change in the defined scope of work. Such changes may arise due to factors such as additions or deletions in the scope of work, modifications in the type, grade or specifications of materials, alterations in specifications or drawings, and acts or omissions of other contractors. Further, ineffective planning, inadequate investigations or surveys and requests from the employer or those within the project’s area of influence can contribute to changes in the scope of work. Ext..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?