ACC, one of the largest cement producers, reported that its net profit in the March quarter was up 74 per cent at ₹563 crore against ₹323 crore logged in the same period last year, mainly on better realisation.
Revenue from sales increased 23 per cent to ₹4,213 crore (₹3,433 crore). Cement sales during the quarter under review was up 22 per cent at 8 million tonne while EBITDA jumped 47 per cent to ₹860 crore.
Power and fuel cost was down by ₹83 per tonne to ₹999 while logistics expenses dipped by ₹32 to ₹1,308 per tonne. The cost savings and lower employee cost pushed up EBITDA per tonne to ₹1,028 (₹798).
Cement prices during the quarter was up six per cent to ₹4,876 a tonne (₹4,579) on sale of premium products, said the company.
The execution of the greenfield growth project at Ametha in Madhya Pradesh and associated grinding units are expected to be completed by June 2022.
Sridhar Balakrishnan, the Managing Director and CEO, said the company has delivered highest-ever revenue and operating profit. The grinding unit expansion at Sindri in Jharkhand was completed in record time, and it is fully operational, he said.
The company has vaccinated 70 per cent of its employees and facilitates the vaccination of remaining employees and contract workmen.
“We are closely monitoring the Covid situation and will continue to take all necessary actions to ensure the health and safety of our employees and communities,” it said.
With Government’s increased spending and a strong focus on infrastructure development, ACC maintains a cautious yet positive outlook for overall cement demand in the coming months, it added.