India's ACC Q1 profit beats estimates on higher cement sales volume


Shutterstock photo

April 21 (Reuters) - India'sACC Ltd <ACC.NS>, a unit of the
world's largest cement maker, Lafargeholcim Ltd <LHN.S>,
reported a 9 percent fall in its first-quarter net profit, but
beat analysts' expectations, helped by stronger cement sales
volume.
    Consolidated net profit fell to 2.11 billion rupees ($32.67
million) for the quarter ended March 31, from 2.32 billion
rupees a year earlier, the company's third profit drop in four
quarters. (http://bit.ly/2owUViW)
    Total revenue from operations grew 9 percent to 36.31
billion rupees.
    Analysts on average were expecting a profit of 1.62 billion
rupees, according to Thomson Reuters data.
    Sales volume at the company's cement segment rose 4 percent
in the quarter as impact from government's move to withdraw
high-denomination notes declined, the company said.

($1 = 64.5950 Indian rupees)

 (Reporting By Arnab Paul in Bengaluru; Editing by Sunil Nair)
 ((arnab.paul@thomsonreuters.com; +91 8067491310; Reuters
Messaging: arnab.paul.thomsonreuters.com@reuters.net))

Keywords: ACC RESULTS/ (URGENT)



This article appears in: Fundamental Analysis , World Markets , Stocks , Economy , Earnings
Referenced Symbols: ACC , LHN


More from Reuters

Subscribe






See headlines for ACC

Follow on:








Research Brokers before you trade

Want to trade FX?