ACC gains 5% on better-than-expected June quarter earnings

The company posted 39 per cent year-on-year jump in consolidated net profit at Rs 456 crore in June quarter on the back of higher realisation.

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Market news: ACC shares rose 5 per cent to Rs 1,647 on the BSE in Friday's early morning deal after the company reported a better-than-expected 39 per cent year-on-year (YoY) growth in consolidated net profit at Rs 456 crore in June quarter (Q2CY19) on the back of higher realisation. The cement company had a profit of Rs 329 crore in the same quarter last year.

Net sales grew 8 per cent at Rs 4,059 crore against Rs 3,768 crore in the corresponding quarter of previous year. Earnings before interest, tax, depreciation and amortization (EBITDA) margin improved 260 bps to 17 per cent on account of better realisations, operational efficiencies and supply chain efficiency improvement. The cement EBITDA/tonne sharply increased to Rs 934 compared to Rs 729 and Rs 589 in Q2CY18 and Q2CY19, respectively.

Analysts, on an average, had expected net sales of Rs 3,871 crore and net profit of Rs 390 crore for the...read more

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