ACC 2Q benefits from rise in cement realisations
ACC’s result for the June ’09 quarter was better than expectations. The company benefited from a 13% YoY rise in cement realisations per tonne, coupled with marginally higher dispatches. The stock jumped 5.80 % to Rs 854.65 on the BSE Thursday, compared with 2.61 % rise in the Sensex.
Strong realisations helped ACC’s net profit for the June ’09 quarter increase by an impressive 84.6% YoY to Rs 470.9 crore
The company’s consolidated income rose 14.2% YoY to Rs 2,208.2 crore in the last quarter, while its operating profit margin improved 1,260 basis points YoY to 34.7%.
The company’s cement dispatches were 5.42Mt in the first quarter of FY10, a rise of 1.9% YoY. In addition, its realizations improved by an estimated 13% YoY to Rs 3,840/t in the last quarter.
ACC, an all-India player, benefited from strong demand conditions in the June 09 quarter from the government-funded infrastructure projects, coupled with housing projects in rural and smaller towns. Published under Cement News
