ACC Gains Over 1% On Jump In March Quarter Profit
ACC shares rose more than 1 per cent on the BSE after the country's leading cement manufacturer reported a jump in net profit in the quarter ended March 2021. Post market hours on Monday, ACC reported a net profit of Rs 563 crore in the quarter ended March 2021, an increase of 74 per cent from Rs 323 crore during the same quarter last year. At 10:35 am, the shares of ACC were trading at Rs 1,892.55, higher by 1.20 per cent, on the BSE.
ACC's revenue from sales rose 23 per cent to Rs 4,213 crore against Rs 3,433 crore in the year-ago period. The cement major registered sales volume of 6.97 million tonnes during the quarter compared with 6.56 million tonnes in the same quarter last year.
The company's operating profit or earnings before interest, tax, depreciation and amortization (EBITDA) jumped 47 per cent to Rs 860 crore and operating profit margin or EBITDA margin improved by 330 basis points to 20.4 per cent from 17.1 per cent in the year ago period.
The BSE Sensex was trading at 48,276.25, higher by 326.15 points or 0.70 per cent and the NSE Nifty was at 14,443.20, up 104.25 points or 0.73 per cent at the time.
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