ACC Ltd, part of the Adani Group, reported a significant 49 percent decline in net profit for the quarter ending September 2024, with profit falling to Rs 200 crore from Rs 387.88 crore in the same period last year. The decline was attributed to near-decade-low cement prices and subdued demand across multiple sectors. Despite challenges, the company’s revenue rose to Rs 4,613.52 crore, up from Rs 4,434.73 crore in the previous year, driven by higher trade sales volume and an increased share of premium products.
The quarter saw ACC’s expenses surge by 8 percent to Rs 4,452.73 crore, primarily due to a Rs 123 crore increase in raw material costs. While power and fuel expenses dropped by Rs 193 crore thanks to a 15 percent reduction in kiln fuel costs, operating EBITDA fell to Rs 436 crore from Rs 549 crore, with margins slipping to 9.5 percent from 12.4 percent. Looking ahead, ACC anticipates a demand improvement in the second half of FY 2025, supported by post-monsoon construction activity and the government’s focus on infrastructure projects.
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Source: Moneycontrol
News Desk
