ACC Q1 net drops 9% at Rs 211 cr
ACC Ltd, a unit of the world's largest cement maker, Lafargeholcim Ltd, reported a 9 percent fall in its first-quarter net profit, but beat analysts' expectations, helped by stronger cement sales volume.
Consolidated net profit fell to Rs 211 crore for the quarter ended March 31, from Rs 232 crore a year earlier, the company's third profit drop in four quarters.
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Total revenue from operations grew 9 percent to Rs 3,631 crore.
Sales volume at the company's cement segment rose 4 percent in the quarter as impact from government's move to withdraw high-denomination notes declined, the company said.