ACC net profit slides 31% on input costs

Cement major ACC hopes that its market share will increase to 11% plus with the recent capacity addition which took its total capacity to 30 million tones per annum, said Kuldeep Kaura, CEO and managing director at the annual general meeting of the company shareholders on Wednesday. HT reports.

Cement major ACC hopes that its market share will increase to 11% plus with the recent capacity addition which took its total capacity to 30 million tones per annum, said Kuldeep Kaura, CEO and managing director at the annual general meeting of the company shareholders on Wednesday.

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The net revenue of ACC was down by 3.9% at R7,717.0 crore and net profit slided by 31% at R1,078 crore due to sharp rise in input cost and lower capacity realisation.

The commissioning of two new projects in Wadi and Chanda have added 3 million tonnes to ACC’s production. In the platinum jubilee year, ACC has declared a dividend of R30.5 per share to its shareholders.