ACC second quarter net profit drops, India

ACC second quarter net profit drops, India
Published: 23 July 2010

ACC Ltd Thursday said second quarter consolidated net profit dropped 26% as sales fell and raw material costs rose.

Net profit for the quarter ended June 30 declined to INR3.49 billion from INR4.71bn a year earlier.

Sales fell less than a percent to INR21.67 billion from INR21.88 billion.

Raw material costs rose 29% to INR3.75 billion during the quarter.

"Overall despatches were adversely affected as a result of constraints in adequate supply of railway wagons and critical raw materials such as slag and flyash," ACC said in a statement.