ACC Ltd, a cement company now part of Adani Cement, announced a 22.46% drop in net profit for the first quarter ending June 2024. The profit fell to ₹361.40 crore from ₹466.14 crore a year earlier. The company’s revenue from operations was slightly down to ₹5,154.89 crore, compared to ₹5,201.11 crore in the same quarter last year. ACC reported its highest-ever cement and clinker sales volume in Q1 over the past five years, reaching 10.2 million tonnes.
Expenses increased by 1.84% to ₹4,741.27 crore, but the company improved its kiln fuel cost by using more alternative fuels. Revenue from the cement business was slightly lower at ₹4,852.26 crore, and revenue from ready-mix concrete dropped by 9.33% to ₹328.83 crore.
The company’s total income, including other sources, was slightly down at ₹5,226.61 crore. Ajay Kapur, CEO of Cement Business at Adani Group, highlighted the company’s efficiency and strategic decisions. Looking ahead, ACC expects the Indian economy to grow between 6.5% to 7% and the cement industry to grow by 7-9% due to increased infrastructure spending. Shares of ACC closed 0.38% lower at ₹2,603.75 on the BSE.
ACC Ltd, one of India’s leading cement manufacturers, is known for its innovative approach and commitment to sustainable development. Established in 1936, the company has a long history of producing high-quality cement and concrete products.
ACC operates numerous plants across India, ensuring a steady supply of its products to meet the country’s growing construction demands. The company emphasizes eco-friendly practices, focusing on reducing its carbon footprint and promoting the use of alternative fuels and raw materials. With a strong distribution network and a reputation for excellence, ACC Ltd continues to play a crucial role in India’s infrastructure development.
