Cement maker ACC’s consolidated net profit for October-December quarter rose by 9.7% to Rs 275.71 crore. The consolidated profit in 2013 remained almost flat at Rs 1,094.67 crore as a result of lower realisations amid sluggishness in the domestic market, ACC said.
The second largest cement maker in the country, where an over-capacity situation has been prevailing for long time now, does not see any major improvement in the domestic market in the near-term.
ACC, controlled by Swiss building material major Holcim, had clocked Rs 251.24 crore net profit in the same period last year. It follows January-December accounting year. The total income during the period under review rose to Rs 2,792.52 crore from Rs 2,768.11 crore a year ago. Expenses, primarily due to higher fuel and freight costs, also went up to Rs 2,585.80 crore from Rs 2,518.69 crore a year earlier.
Consolidated net profit of the firm slightly rose to R1,094.67 crore in 2013 from R1,059.28 crore a year earlier, but total income marginally fell to R11,169.42 crore in 2013 from R11,358.19 crore in 2012.