ACC has nearly tripled net profit for the second quarter of the current fiscal, benefiting both from higher cement prices and one-time gains on sale of assets during the period.
Consolidated net profit rose to Rs 411.79 crore for the quarter ended June 2006, up from 148.95 crore during the corresponding previous period. The company has also recorded one-time realisations of Rs 140 crore from sale of land and of Rs 38 crore from sale of Mancherial Cement Works.
Volume sales at 4.63 million tonnes were up 4.3 per cent. But higher realisations led to turnover rising 21.5 per cent to Rs 1,477 crore (Rs 1,216 crore). Total expenditure was contained, rising only five per cent year-on-year to Rs 1,012 crore (Rs 965 crore). Provision for tax stood at Rs 187 crore (Rs 179 crore). EBITDA rose 73.9 per cent to Rs 482 crore (Rs 277 crore). Interest costs declined to Rs 15.2 crore (Rs 27.7 crore); depreciation stood at Rs 59.85 crore (Rs 22.97 crore).
On a standalone basis, the company posted net profit of Rs 406 crore against Rs 142 crore earlier. Total income, net of excise, stood at Rs 1,478 crore (Rs 1,165 crore). The results for the quarter under review are not strictly comparable year-on-year because Tarmac (India) was acquired in December 2005 and consolidated only later.
|
|
|
|
|
| Posted : 7/20/2006 |
|
|
|
|
