ACC, one of the country's leading cement makers, has posted a marginal decline of 1.6 per cent in its consolidated net profit at Rs 392.9 crore for the quarter ended March 31, compared with Rs 399.3 crore in the previous corresponding quarter. The consolidated net sales during the quarter, however, were 3.5 per cent higher at Rs 2,240.4 crore, against Rs 2,164 crore last year.
The company, which follows the calendar year for accounting, sold 2.6 per cent less cement during the March quarter, at 5.6 million tonnes against 5.7 mt in the same period last year.
"Several of our cement units faced despatch constraints due to non-availability of railway wagons. As a result of which, our sales volumes were near-flat," said ACC in a statement.
Despite weak sales volume, it managed to have higher sales turnover, primarily because of higher prices of building materials. ACC Managing Director Sumit Banerjee said, "There is scope for improvement. We will be able to boost efficiency and productivity levels of our plants in coming months."
On readymade concrete, sales grew by 15.1 per cent during the quarter to Rs 149.4 crore from Rs 129.8 crore last year. On a standalone basis, ACC's net profit for the March quarter remained flat at Rs 405.1 crore against Rs 404.8 crore. The standalone net sales was up 2.3 per cent at Rs 2,101.8 crore compared with Rs 2,055.1 crore last year.
In its outlook, the company said overall demand growth for cement continues to be encouraging, particularly from the infrastructure sector.
| CONSOLIDATED PERFORMANCE | |||
| Q2CY09 | Q1CY10 | Change (%) | |
| Net sales | 2,163.99 | 2,240.37 | 3.53 |
| Net profit | 399.34 | 392.87 | -1.62 |
| Raw material | 267.74 | 334.35 | 24.88 |
| Power & Fuel | 414.17 | 394.82 | -4.67 |
| * All figures in Rs crore Source: Company | |||
Ambuja Cements net up 38 per cent
Ambuja Cements, part of the Swiss cement major Holcim, has posted a rise of 38.3 per cent in its net profit for the quarter ended March, at Rs 462 crore, compared with Rs 334 crore in the previous corresponding quarter. The company's net sales during the period rose to Rs 1,990 crore against Rs 1,846 crore last year, up 7.8 per cent.
Contrary to its sister concern ACC, Ambuja sold 4.3 per cent more cement during the quarter with despatches of 5.27 million tonnes. "Energy costs and clinker purchases were lower compared with last year, and consequently Ebidta for the quarter improved by 20.5 per cent (y-o-y) from Rs 540 crore to Rs 590 crore," said Ambuja in a statement.
