ACC Q1 results: Net profits soar 105 pc, revenue up 16 pc
Jul 27, 2023
New Delhi [India], July 27 : Adani Group-owned company ACC’s net profits (profit after tax) more than doubled (rose 105 per cent) on a yearly basis during the April-June 2023 quarter at Rs 466 crore.
In the same quarter last year, the net profits were Rs 227 crore.
The company's net revenue during the quarter rose 16 per cent to Rs 5,201 crore against Rs 4,468 crore registered same quarter last year.
ACC Limited, the cement and building material company of the diversified Adani Group, today announced the financial results for the quarter ended June 30, 2023.
The company in a release said the stronger financial performance during the quarter was driven by “volume growth and business excellence”.
“Our long-term competitiveness remains robust, ensuring industry-leading profitability even as we chase our ambitious growth goals. With a firm belief in strategic approach, we are poised to continue our trajectory of outstanding performance in the forthcoming quarters,” said Ajay Kapur, Whole Time Director and CEO, ACC Limited.
On the outlook, the company said the cement industry is in a positive cycle of demand and expects the positive trend of the industry to continue in coming quarters.
ACC has 16 cement manufacturing sites, over 85 concrete plants and a nationwide network of channel partners to serve its customers.
