 "ACC Cement records 15.7% surge in Q3 net at Rs 2.06 bn, expenses rise 9.8%")
Cement maker ACC Ltd on Wednesday posted a 15.7 per cent rise in quarterly profit, which fell short of market estimates as expenses rose.
Standalone profit was Rs 2.06 billion ($27.99 million) for the third quarter ended Sept. 30, compared with Rs 1.78 billion a year earlier, the Mumbai-based company said in a statement.
Analysts on average had expected a standalone profit of Rs 2.34 billion, according to Refinitiv data.
Cement sales volume grew 10 per cent to 6.55 million tonnes (MT) in the quarter, while expenses rose 9.8 per cent.
Quarterly sales of the company, which is a unit of the world's largest cement maker, LafargeHolcim Ltd, grew 10 per cent to Rs 33.64 billion.