ACC reports rise in first quarter net profit and total income
According to the consolidated first quarter results posted by the cement bigwig ACC Ltd, the company's year-on-year net profit figures, for the quarter ended March 31, 2009, have gone up from Rs 324.3 crore a year before to Rs 399.34 crore.
In its filing to the stock exchange, the cement maker said that its total income also moved upward - from the year earlier Rs 1953.33 crore to Rs 2217.82 crore.
However, the company has clarified that the consolidated results for the quarter ended March 31, are not comparable with the related preceding period in a strict sense, because of investment in associate Alcon Cement Company, effective April 01, 2008; and divestment of subsidiary ACC Machinery, effective March 10, 2008.
Viewing the figures on an unconnected basis too reveals that the net profit of ACC has gone the way up - from Rs 357.54 crore in the same quarter a year back to Rs 404.76 crore.
In addition, ACC's consolidated sales volume during the quarter also increased to 5.73 million tonnes, in comparison to 5.4 million tonnes in the same quarter the earlier fiscal.
Obviously upbeat about industry outlook, ACC said: "a number of new capacities are scheduled to go on stream in the second half of the current fiscal and we expect that the outlook for cement will continue to be healthy in 2009."