ACC Cement reports 15% increase in net profit in Q3 FY18
ACC Cement reported a 15% rise in its net profit during the quarter ending December 2017. The profit after tax (PAT) was reported at Rs 204.51 crore as against Rs 177.69 crore in the previous quarter. The company's net revenue increased by 12% at Rs 3494.08 crore. ACC's liabilities also grew by 14% during the said period. Its total liabilities during Q3 FY18 stood at Rs 5523.39 crore as against Rs 4837.10 crore in the preceding quarter. "The quarter was impacted by an increase in cost of imported coal and petcoke, slag prices, limited availability of linkage domestic coal forcing a shift to costlier fuel sources, and the ban on petcoke usage in NCR," the company said in a media release. The board of directors have recommended final dividend of Rs 15 per share, total dividend Rs 25 per share including interim dividend of Rs 11 per share. "ACC registered robust revenue growth across categories and geographies, with an increased focus on premium products and a targeted approach to customers and market, delivering strong top-line growth," said Neeraj Akhoury, CEO and managing director of the company.
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