ACC net profit Q3 FY22: 24% jump in net profit at Rs 450.21 crore
Real Estate

ACC net profit Q3 FY22: 24% jump in net profit at Rs 450.21 crore

ACC has recorded a 24% rise in its net consolidated profit during the quarter ended September 2021.

It reported a profit after tax (PAT) of Rs 450.21 crore in Q3 2021 compared to Rs 363.85 crore it recorded in the similar quarter previous fiscal, the firm said in a BSE filing.

The firm's total income reached Rs 3,812.31 crore in Q3 2021, a jump of 6% from Rs 3,582.82 crore it reported in the corresponding quarter last year.

ACC told the media that it is committed to decreasing Scope 1 GHG emissions 21.3% per ton of cementitious material by 2030 from a 2018 base year and Scope 2 GHG emissions by 48.4% per ton of cementitious material within the same period.

Sridhar Balakrishnan, the firm's managing director and CEO, told the media that ACC has registered reliable performance during the quarter through operational perfection and focus on sustainability while satisfying customers’ requirements. It is a pledge towards the 2030 intermediate goals to decrease greenhouse gas emissions, as approved by the Science Based Target initiative (SBTi).

Net sales during the quarter rose to Rs 3,653 crore, a jump of 5% from Rs 3,468 crore registered in the previous year. Income from ready-mix concrete reached Rs 305.07 crore in Q3 2021, compared to Rs 196.57 crore in the preceding financial year. Ready-mix concrete sales rose by 46% YoY in the stated quarter.

Image Source


Also read: ACC’s profit in the first quarter of FY22 up by 74%

ACC has recorded a 24% rise in its net consolidated profit during the quarter ended September 2021. It reported a profit after tax (PAT) of Rs 450.21 crore in Q3 2021 compared to Rs 363.85 crore it recorded in the similar quarter previous fiscal, the firm said in a BSE filing. The firm's total income reached Rs 3,812.31 crore in Q3 2021, a jump of 6% from Rs 3,582.82 crore it reported in the corresponding quarter last year. ACC told the media that it is committed to decreasing Scope 1 GHG emissions 21.3% per ton of cementitious material by 2030 from a 2018 base year and Scope 2 GHG emissions by 48.4% per ton of cementitious material within the same period. Sridhar Balakrishnan, the firm's managing director and CEO, told the media that ACC has registered reliable performance during the quarter through operational perfection and focus on sustainability while satisfying customers’ requirements. It is a pledge towards the 2030 intermediate goals to decrease greenhouse gas emissions, as approved by the Science Based Target initiative (SBTi). Net sales during the quarter rose to Rs 3,653 crore, a jump of 5% from Rs 3,468 crore registered in the previous year. Income from ready-mix concrete reached Rs 305.07 crore in Q3 2021, compared to Rs 196.57 crore in the preceding financial year. Ready-mix concrete sales rose by 46% YoY in the stated quarter. Image SourceAlso read: ACC’s profit in the first quarter of FY22 up by 74%

Next Story
Infrastructure Urban

Sambhajinagar to Make 980 Villages Tanker-Free

The district administration of Chhatrapati Sambhajinagar has unveiled a major initiative to make 968 villages and 12 wadis entirely tanker-free under the Jal Samruddha Gaon Abhiyan.The campaign seeks to establish long-term, sustainable solutions to the district’s worsening water crisis, currently being managed through 263 water tankers. The scarcity has been caused by poor monsoon rainfall and declining groundwater levels across the region.As part of the first phase, officials will conduct a detailed survey of the affected villages and examine over 191 wells to assess the potential for refil..

Next Story
Infrastructure Urban

Srinagar to Anchor Inland Waterways Push in J&K

Srinagar has emerged as the central hub for a major initiative aimed at developing inland water transport (IWT) infrastructure across Jammu and Kashmir.The Inland Waterways Authority of India (IWAI), under the Ministry of Ports, Shipping and Waterways, has inaugurated a regional office at Transport Bhawan in Srinagar. The office will act as the nodal centre for planning and executing IWT projects throughout the Union Territory.The establishment of this office reflects the Union Government’s growing commitment to utilising the region’s river systems for sustainable and low-emission transpor..

Next Story
Infrastructure Transport

Gurugram Metro Phase 1 Clears Land Hurdle

Gurugram’s urban transport network is set for a major overhaul as Gurugram Metro Rail Limited (GMRL) moves forward with Phase 1 of its metro expansion. The project, valued at Rs 12.86 billion, will include a 15.2-kilometre elevated corridor with 14 stations, connecting Millennium City Centre to Sector 9, with an additional spur to Sector 101 on the Dwarka Expressway.In a key development, GMRL has received approval from the Haryana Shehri Vikas Pradhikaran (HSVP) to utilise over 5,800 square metres of land for the construction of 10 stations. These land parcels will accommodate vital infrastr..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?