ACC net profit fall at Rs 82 crore for the quarter ended September 30, 2016
Mumbai, Oct 21: ACC has dipped 4% to Rs 1,542 on BSE in intra-day after posting 29% fall in consolidated net profit at Rs 82 crore for the quarter ended September 30, 2016 (Q3CY16), due to lower realization. The company had posted 115 crore in the same quarter year ago.
Sales turnover during the quarter under review declined 9.7% to Rs 2,473 crore against Rs 2,740 crore in the corresponding quarter of previous year.
“The company overall sales volume in this quarter was lower as compared to the preceding year. Market conditions led to marginally lower realizations as compared to the previous year in all regions except in the North, whereas net selling prices registered an improvement on a sequential basis,” ACC said in a release.
On supply side, the company expects volumes to pick up as the newly commissioned units stabilize, especially in the fast-growing eastern region. On the overall demand side, the company maintains an optimistic outlook for the economy in the coming months.
At 03:03 pm, the stock was down 3% at Rs 1,560 on BSE, against 0.24% fall in the S&P BSE Sensex. A combined 1.21 million shares changed hands on the counter on the BSE and NSE.