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

21 Oct 2021 CW Team

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.

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

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