ACC fell 1.3% to Rs 1,364 at 09:25 IST on BSE after consolidated net profit fell 40.2% to Rs 115.21 crore on 1.5% decline in total income to Rs 2808.29 crore in Q3 September 2015 over Q3 September 2014.
The company announced results after market hours yesterday, 20 October 2015.
Meanwhile, the S&P BSE Sensex was up 86.03 points or 0.32% at 27,392.86
On BSE, so far 10,107 shares were traded in the counter as against average daily volume of 25,958 shares in the past one quarter.
The stock hit high of Rs 1,375 and low of Rs 1,358 so far during the day. The stock had hit a 52-week low of Rs 1,303.05 on 29 September 2015. The stock had hit a record high of Rs 1,774.80 on 2 March 2015.
The large-cap company has equity capital of Rs 187.75 crore. Face value per share is Rs 10.
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ACC's operating EBITDA (earnings before interest, taxation, depreciation and amortization) dropped 17.37% to Rs 313.20 crore in Q3 September 2015 over Q3 September 2014.
ACC's cement sales volume declined 0.17% to 5.61 million tonnes in Q3 September 2015 over Q3 September 2014. ACC said that while sales realization was almost flat, there was a reduction in input and energy costs. The company continues its focus on cost management, ACC said. The company made a provision of Rs 38 crore in Q3 September 2015 for the District Mineral Foundation and National Mineral Exploration Trust, ACC said.
ACC said that the cement industry witnessed weak offtake of cement in Q3 September 2015 due to subdued construction activity in most of the monsoon season. As a result, the company's cement volumes were correspondingly flat and selling prices were subdued, ACC said.
In its outlook, ACC said that the pace of economic revival so far has been slower than expected. In the coming few quarters, the company hopes that trends such as the recent cut in interest rates, softening of energy prices, control of inflation and government's concerted efforts to stimulate investment across several sectors will have a favourable impact on improving the overall economic environment in the country. This can help provide an impetus to construction activity that in turn would open up more opportunities for the growth of cement industry, 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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