ACC Cement's Q4 profit soar: PAT hits ₹945 crore, up 300% YoY on robust sales
Upstox
2 min read • Updated: April 25, 2024, 4:29 PM
Summary
ACC, a unit of Ambuja Cements, reported 12% YoY rise in revenue from operations at ₹5,409 crore. Meanwhile, its profit after tax stood at ₹945 crore compared to ₹236 crore profit in the year-ago period.
Cement maker ACC on Thursday said its consolidated profit after tax (PAT) increased four-fold to ₹945 crore in the March quarter of the previous fiscal year on account of robust sales. The company had reported a PAT of ₹236 crore in the year-ago period.
Revenue from operations rose to ₹5,409 crore in the fourth quarter as compared with ₹4,791 crore in the year-ago period, ACC Ltd said in a regulatory filing.
As per company, robust quarterly performance is attributed to all round improvement in volume, cost and efficiency parameters.
"The trust of our customers and our commitment to building a sustainable future with investment in efficiency improvements, green power etc. has furthered our success, as we emerge even stronger than before," ACC Ltd CEO Ajay Kapur said.
During the quarter, ACC’s cement and clinker sales volume grew by 23.5% YoY to 10.4 million tonnes
The company, a unit of Ambuja Cements, said its board has recommended a dividend of ₹7.5 per share.
ACC said the outlook for the cement industry remains positive based on higher budgetary allocation to infrastructure and construction and government's push for affordable housing, along with green energy transition, demand-supply dynamics, and greater consolidation.
The company will have the advantage of accelerated growth, lower cost, group synergies which in turn will help to sustainable performance and market leadership, it added.
Shares of the company closed 0.65% up at ₹2,573 apiece on the NSE.