ACC rose 1.4% to Rs 1,617 at 9:16 IST on BSE after consolidated net profit tumbled 40.84% to Rs 236.54 crore on 0.65% decline in total income to Rs 3140.31 crore in Q1 March 2015 over Q1 March 2014.
The Q1 result was announced on Tuesday, 14 April 2015. The stock market was closed on that day on the occasion of Dr. Baba Saheb Ambedkar Jayanti.
Meanwhile, the S&P BSE Sensex was down 14.93 points or 0.05% at 29,029.51.
On BSE, so far 2,816 shares were traded in the counter as against average daily volume of 17,000 shares in the past two weeks.
The stock hit a high of Rs 1,624.85 and a low of Rs 1,610.10 so far during the day.
ACC's cement sales volume fell 10.18% to 5.82 million tonnes in Q1 March 2015 over Q1 March 2014. With slackened demand from infrastructure and general construction sector in Q1 March 2015, the overall cement sales volume registered a decline over Q1 March 2014, ACC said in a statement.
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Net sales realization of cement business improved in Q1 March 2015 compared with Q1 March 2014, ACC said. While the company maintained a stringent check on input costs, the overall operating costs for cement business registered an increase of 3.6% in Q1 March 2015 as compared to Q1 March 2014, ACC said in a statement.
Operating EBITDA rose 43.38% to Rs 609.48 crore in Q1 March 2015 over Q1 March 2014. Operating EBITDA reflects continued margins improvements and also includes accrual of an amount of Rs 139.74 crore pursuant to favourable order dated 24 February 2015, of the Jharkhand High Court pertaining to disputes related to incentives for the period August 2005 to March 2015, which were earlier committed by the State of Jharkhand but was denied thereafter, ACC said in a statement.
The profit before tax (PBT) fell 19.06% to Rs 310.12 crore in Q1 March 2015 over Q1 March 2014. PBT includes an additional charge of Rs 164.45 crore being the carrying amount as of 1 January 2015 of fixed assets with no remaining useful life (as revised) as of that date in accordance with the provisions of Schedule II of the Companies Act 2013 becoming applicable to the company with effect from 1 January 2015, ACC said in a statement.
Cement demand is likely to improve in the next two quarters, while focus on performance will continue, ACC said.
ACC is a manufacturer of cement and ready mixed concrete with a countrywide network of factories and sales offices.
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