ACC Q1 profit surges 74.2% to Rs 563 crore, low base aides volume

ACC Q1 profit surges 74.2% to Rs 563 crore, low base aides volume
Cement major ACC has reported astrong set of numbers for the first quarter of CY21. The company’s consolidated profit surged 74.2% year-on-year to Rs 563 crore backed by a strong topline and better-than-expected operating performance.
Consolidated revenue during the quarter grew by 22.7% to Rs 4,213 crore compared to Rs 3,433 crore in the year-ago period.

ACC cement sales volume increased to 7.97 million tonnes in Q1CY21, registering a 21.5% growth compared to 6.56 million tonnes in March quarter last year.
Ready-mix concrete sales volume declined to 0.83 million cubic metres during the quarter, from 0.93 million cubic metres in the corresponding period.

The company delivered its highest-ever revenue and operating EBIT in this quarter.
Cost efficiency project ‘Parvat’ is on track and has helped in managing some continuing cost headwinds.
At the operating level, consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) spiked 46.8 percent to Rs 860 crore and margin expanded 330 bps to 20.4 percent compared to year-ago quarter.
ACC follows January-December as its financial year.

The operating EBIT jumped 67.1% year-on-year to Rs 717 crore and margin climbed 450 bps to 17% in Q1CY21 driven by capex-led strong cost actions and higher growth in premium products.
ACC commissioned a new grinding unit at Sindri in a record time, adding a capacity of 1.4 MTPA.

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