ACC said its consolidated profit after tax rose 18.48% to Rs 250 crore on 14.45% increase in net sales to Rs 3557 crore in Q1 March 2018 over Q1 March 2017. Operating EBITDA rose 17.99% to Rs 492 crore in Q1 March 2018 over Q1 March 2017. Cement sales volume rose 7.73% to 7.11 million tonnes in Q1 March 2018 over Q1 March 2017. The result was announced after market hours yesterday, 18 April 2018.
A rise in energy and slag prices adversely impacted operating costs during the quarter as compared to the same quarter a year ago. Despite a challenging external environment, cost savings were achieved through sustained improvement in operational efficiencies, optimization and robust control on fixed costs, the company said in a statement.
ACC's financial performance in Q1 March 2018 reflects strong volume growth momentum powered by the company's focused approach to innovation, operational improvements, and customised solutions for consumers. The company is on a clear growth trajectory to deliver strong returns to its shareholders, Neeraj Akhoury, managing director and CEO, said in a statement.
In its outlook, ACC said increased government spending on infrastructure development including roads and railways, housing and other schemes as announced in the Union Budget are expected to reinvigorate the construction sector and boost demand for cement and concrete during 2018.
NMDC said it cut prices of lump ore and fines by Rs 100 each to Rs 2,900 per tonne and Rs 2,560 per tonne with effect from 18 April 2018. The announcement was made after market hours yesterday, 18 April 2018.
Sun Pharmaceutical Industries said that one of the wholly-owned subsidiaries has increased its shareholding in Ranbaxy Malaysia Sdn Bhd, Malaysia, by way of further purchase of 394,404 shares of face value of MYR 1 each (equivalent to 4.93%) of Ranbaxy Malaysia Sdn Bhd. The announcement was made after market hours yesterday, 18 April 2018.
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Ranbaxy Malaysia Sdn Bhd., is a subsidiary of the company, and the total shareholding of Sun Pharmaceutical Industries, alongwith its wholly owned subsidiary is 90.74%, prior to this purchase of shares. Post completion of this purchase of shares, the total holding of the company along with its wholly owned subsidiary will increase to 95.67% in Ranbaxy Malaysia Sdn Bhd.
Infosys will be watched. With reference to media article titled, "Whistleblower allegations unfounded: Shaw", Infosys clarified that it has not, till date, received the alleged anonymous whistleblower complaint through its whistleblower complaint reporting channels or from Sebi or SEC and is therefore unable to comment on the complaint or the allegations made therein. In the event the anonymous whistleblower complaint is received by the company through its whistleblower complaint reporting channels or from Sebi or SEC, it will deal with it in accordance with the company's whistleblower policy. The announcement was made after market hours yesterday, 18 April 2018.
Container Corporation of India said that its board may consider stock split in its meeting scheduled on 30 April 2018. The announcement was made after market hours yesterday, 18 April 2018.
Bharat Dynamics said it signed licensing agreement with Defence Research Development Organisation (DRDO) for ASTRA MK-1 Weapon System. Limited scale of production will commence shortly on suitable arrangements from DRDO. The announcement was made after market hours yesterday, 18 April 2018.
Mercator announced that coal mining operations in Indonesia have attained near optimum levels. Further, revenue from third party logistics operations and coal handing have also stabilized. The announcement was made after market hours yesterday, 18 April 2018.
In January 2018, Mercator had announced successful resumption of coal operations in Indonesia. The management expected operations to reach optimum levels by March 2018.
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