ACC registers 1.2% growth in net profit during Q1 FY19
ACC, a cement producer, registered a growth of 1.2% in its profit after tax (PAT) in the quarter ending June 2018. Its net profit stood at Rs 325.51 crore in Q1 FY19, as against Rs 321.75 crore it recorded in the similar quarter last year.
The company’s revenue from operations stood at Rs 3,848.25 crore as against Rs 3,958.57 crore it registered in the corresponding quarter previous year.
“The positive impacts of our step change in cost management are favorably impacting our financial results. We remain optimistic in our capacity to develop new revenue lines as well as strengthen our performance in both the cement and ready mix business”, said Neeraj Akhoury, managing director & CEO of the company.
Revenue from cement segment during the said quarter stood at Rs 3,581.37 crore versus Rs 3,744.14 crore it saw in Q1 FY17. On the other hand, revenue from ready mix concretesegment increased by 17% and stood at Rs 320.66 crore.