New Delhi (Anish Yande): Shares of ACC rose by more than 2 percent on Tuesday's trading session. The shares of the cement manufacturer were on the incline as the company announced its quarterly results for the quarter ended March 2021.
Shares of ACC were trading at Rs 1,892.55 following the opening bell. The shares rose to an intraday high of Rs 1,980.00.
ACC records rise in profit and revenue:
ACC reported a consolidated profit of Rs 563 crore, at an increase of 74.2 percent year-on-year basis. The cement manufacturer recorded a consolidated profit at Rs 323 crore during the same quarter in the previous fiscal.
The consolidated revenue of ACC was reported at Rs 3,433 crore in the previous year. Revenue of ACC rose to Rs 4,213 crore in the March quarter, at an increase of 22.7 percent.
According to ACC, the cement sales volume was recorded at 6.56 million tonnes in March quarter last year. In the March 2021 quarter, the cement manufacturer reported a cement sales volume of 7.97 million tonnes in Q1CY21, at a growth of 21.5 percent.
ACC revenue from sales:
The revenue from sales increased from Rs 3,433 crore in the March quarter of the previous fiscal to Rs 4,213 crore in the recent March quarter, at an increase of 23 percent. The cement manufacturer recorded sales amounting to 6.56 million tonnes in the same quarter of the previous fiscal. The sales volume rose to 6.97 million tonnes during the March quarter.
Concrete sales volume in the ready-mix variant was at 0.93 million cubic meters in the corresponding quarter of the previous fiscal. Ready-mix concrete sales volume decreased to 0.83 million cubic meters within the March quarter.
The consolidated EBITDA of the cement manufacturer increased to Rs 860 crore. The EBITDA margin expanded by 330 bps to 20.4 percent on a year-on-year basis. ACC had announced the development of a new cement grinding unit at Sindri, which would add a capacity of 1.4 MTPA.
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