ACC Ltd.'s profit for the fourth quarter missed analyst estimates on higher expenses and flat realisations.
Adjusted net profit rose 12.5 percent to Rs 229.80 crore in the December-ended quarter, according to the cement maker's exchange filing. That compares with the Rs 271.5-crore estimate of analysts tracked by Bloomberg. The company made tax reversals to the tune of Rs 500.63 crore during the quarter.
Operating income or the earnings before interest, tax, depreciation and amortisation rose 10.1 percent to Rs 487.1 crore, while operating margin contracted to 12.5 percent from 12.7 percent.
The company's net sales rose 11.5 percent year-on-year to Rs 3,788.6 crore, in line with the estimated Rs 3,826.5 crore.
Other Key Highlights (YoY):
- Volumes rose 8.4 percent to 7.5 million tonne.
- Realisation rose 2.3 percent to Rs 5,051 per tonne.
- Ebitda rose 1.6 percent to Rs 649 per tonne.
Shares of the Mumbai-based company declined as much as 3.5 percent to Rs 1,356.45 apiece in today's trade after the earnings announcement. The company declared a final dividend of Rs 14 per share.
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