ACC Jan-Mar net falls 9%, revenue up on higher cement sales
Sales volume at the company’s cement segment rose 4% in the quarter as impact from government’s move to withdraw high-denomination notes declinedbusiness Updated: Apr 21, 2017 17:13 IST
India’s ACC Ltd, a unit of the world’s largest cement maker, Lafargeholcim Ltd, reported a 9% fall in its first-quarter net profit, but beat analysts’ expectations, helped by stronger cement sales volume.
Consolidated net profit fell to Rs 2.11 billion for the quarter ended March 31, from Rs 2.32 billion a year earlier, the company’s third profit drop in four quarters.
Total revenue from operations grew 9% to Rs 36.31 billion.
Analysts on average were expecting a profit of Rs 1.62 billion, according to Thomson Reuters data.
Sales volume at the company’s cement segment rose 4% in the quarter as impact from government’s move to withdraw high-denomination notes declined, the company said.