Financial Daily from THE HINDU group of publications
Saturday, Jan 26, 2002
Financial Daily from THE HINDU group of publications Saturday, Jan 26, 2002 |
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Corporate Results
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Cement ACC net up 16.4% in Q3 at Rs 16.93 cr Our Bureau
MUMBAI, Jan. 25 ACC Ltd has reported a net profit of Rs 16.93 crore for the third quarter ended December 31, 2001, showing a growth of 16.43 per cent against Rs 14.54 crore in the same period the previous year. The company has continued its focus on achieving better financial performance through cost-control and working capital management, said a news release quoting the company's Managing Director, Mr T.M.M. Nambiar. This, along with improved sales volumes and realisation has contributed in sustaining the profit despite continuing inflationary pressure on inputs, he said. Net sales from operations grew 11.2 per cent to Rs 814.07 crore (Rs 731.98 crore). Cement sales volumes (including traded volumes) increased 16.13 per cent to 31.52 lakh tonnes (27.14 lakh tonnes). For the nine-month period ended December 31, 2001, the company recorded a net profit of Rs 77.91 crore against a net loss of Rs 10.39 crore. Looking ahead, the growth rate of the industry, 7.3 per cent for the period ended December 31, 2001 as compared to the negative growth reported during FY 2001, is expected to improve further during the fourth quarter, said Mr Nambiar.
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