ACC profit dips by 44 per cent
ACC, a cement maker, reported a dip of 44.3% in net profit for the quarter ending September. The company registered a profit of Rs 181.53 crore in Q2 2017 which was Rs 326.23 in Q1 2017.
“Our productivity and operating efficiencies improved despite rising input costs from higher slag prices and fuel costs. Higher usage and imported and auctioned coal, caused by the limited availability of linkage coal, adversely impacted fuel costs. However, improved raw material mix and fuel mix optimization helped to partially neutralise the adverse impact,” the company said in BSE filing.
Company’s net sales dipped by 20% during the same period from Rs 3818.21 in Q1 2017 to Rs 3054.49 crore in Q2 2017.
While the revenue from Ready Mix Concrete (RMX) increased from Rs 273.17 crore to Rs 285.95 crore, revenue from cement segment dropped from Rs 3744.51 crore to Rs 2883.01 crore.
“RMX now has 57 operational plants in India and concrete is being supplied to diversify customer segments such as high-mid rise, individual home buyers, metro, etc,” the statement read.
Two new commercial plants were commissioned at Mumbai and Pune and two dedicated projects were recently commissioned in Jharkhand.
The company also announced the appointment of Jan Jenisch as an additional director in the category of non-executive, non-independent director. “His appointment will be regularized in the next annual general meeting,” the company said.