ACC Q1 net falls 1.6%
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B. KARTHICK
Apr 24, 2008, 6:43:39 AM4/24/08
to Kences1
Cement maker ACC Ltd on Thursday reported a 1.6 per cent fall in
quarterly profit, beating analysts' forecast for a bigger decline.
The Mumbai-based company, 41 per cent owned by Swiss cement maker
Holcim, said net profit for the March quarter fell to Rs 358 crore
($89 million) from 3.64 billion reported a year earlier.
Net sales rose to Rs 1796 crore in its fiscal first quarter from 16.75
billion in the year-ago quarter.
A Reuters poll of 11 analysts had forecast a 12.5 per cent fall in net
profit to Rs 318 crore on sales of 18.61 billion.
ACC has an annual cement making capacity of 19.9 million tonnes,
making it India's single biggest cement maker. Grasim Industries has
14.1 million tonnes capacity, and its unit UltraTech Cement has 17
million tonnes
quarterly profit, beating analysts' forecast for a bigger decline.
The Mumbai-based company, 41 per cent owned by Swiss cement maker
Holcim, said net profit for the March quarter fell to Rs 358 crore
($89 million) from 3.64 billion reported a year earlier.
Net sales rose to Rs 1796 crore in its fiscal first quarter from 16.75
billion in the year-ago quarter.
A Reuters poll of 11 analysts had forecast a 12.5 per cent fall in net
profit to Rs 318 crore on sales of 18.61 billion.
ACC has an annual cement making capacity of 19.9 million tonnes,
making it India's single biggest cement maker. Grasim Industries has
14.1 million tonnes capacity, and its unit UltraTech Cement has 17
million tonnes
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