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Higher expenses and lesser sales have squeezed cement maker ACC Ltd’s consolidated net profit by 37 per cent during the April-June quarter to Rs 262 crore from Rs 414.52 crore during the same period a year ago. Shares of the company were trading at Rs 1,179.50 apiece, down 4.2 per cent during the later afternoon trade.
The ACC Board has approved an interim dividend of Rs 11 a share, it said in an exchange filing on Thursday. ACC, which has majority stake by Switzerland-based building material major Holcim, reported a 3.6 per cent dip in revenue during the quarter to Rs 2,851 crore.
