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Cement manufacturer ACC Ltd's consolidated net profit for the fourth quarter ended December 2011 rose 86 per cent year-on-year as revenues and realisations rose.
Net profit rose to Rs 463 crore, from Rs 248 crore in the year-ago quarter.
There was a 26-per-cent growth in sales, which stood at Rs 2,647 crore (Rs 2,093 crore).
ACC sold 23.73 million tonnes of cement during 2011, against 21.29 tonnes in 2010.
For fiscal 2011, the company's net profit rose over 20 per cent, to Rs 1,300 crore while turnover rose 21 per cent, to Rs 10,012 crore. There were steep escalations in the cost of major inputs, said a statement from the company. Coal prices for different grades increased by about 30 per cent, while the cost of gypsum and fly ash increased significantly.
OUTLOOK
Higher fuel prices also led to increased cost of transportation.
“While the economic growth during the year was not robust, we are seeing some positive signs in the last few months,” said the statement.
In the near term, the company expects economic activity to accelerate as India plans to invest about $1 trillion in infrastructure in the 12th Five-Year Plan period.
“As regards raw materials, coal pricing is volatile and we also anticipate a rise in the costs of other critical inputs,” said the statement.
The board has recommended a dividend of Rs 17 a share , bringing the total dividend for the year to Rs 28 a share.
The company's stock rose by Rs 6.30 on the BSE, to close at Rs 1,388.90.
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