Shares of ACC jumped as much as 7% during the early trade on Tuesday, after the company reported an over two-fold jump in consolidated net profit for the second quarter ended June 2021.
The cement maker posted a net profit of Rs 569.45 crore, compared to a profit of Rs 270.95 crore in the April-June quarter a year ago.
The company follows the January-December financial year.
The company, reported revenue from operations of Rs 3,884.94 crore during the quarter, up 49.29% from Rs 2,602.24 crore in the year-ago period.
ACC, a subsidiary of Swiss building material major Holcim group (earlier LafargeHolcim), witnessed improvement in performance helped by a lower base, increase in sales and cost efficiency.
Total expenses climbed 40.97% to Rs 3,175.47 crore, compared to Rs 2,252.62 crore earlier. Revenue from cement rose 43.96% to Rs 3,672.31 crore, as against Rs 2,550.99 crore in the corresponding quarter of the previous year.
Cement sales volume jumped 43.7% to 6.84 million tonnes (MT) as against 4.76 MT in April-June 2020. Revenue from ready-mix concrete increased four-fold to Rs 255.08 crore, as against Rs 62.23 crore.
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