ACC Cement Posts Rs 538 Crore Net Profit, Up 375% Year-On-Year
NDTV
The company in its outlook said the Cement demand in India will continue to grow at 7-8%, primarily fuelled by investments in infrastructure and large-scale residential housing projects.
Cement maker ACC, which is one of the largest cement and building makers in India, today reported a "robust" third financial quarter ending December (Q3) in the financial year 2023-2024.
ACC Cement, which is a part of the Adani Group, said the profit after tax (PAT) rose 375 per cent year-on-year at Rs 538 crore and the operating EBITDA, a metric used by companies to measure performance, was up 139 per cent at Rs 905 crore and their EBITDA margin of 18.4 per cent is highest in last six quarters.
"ACC's financial performance has seen a complete turnaround in the last 12 months. Recent capacity additions have taken the Adani Group's cement capacity to 77.4 MPTA. This will enable volume and revenue growth on a sustainable basis," Ajay Kapur, Whole Time Director & CEO, ACC Limited said.
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