India's foremost cement manufacturer ACC has reported 41% growth in its first quarter of CY11 net profit of Rs 350 crore as against Rs 248 crore in previous quarter.
However, consolidated net profit declined nearly 10.9% as compared to Rs 392.9 crore in first quarter of CY10.
Net sales for the January-March quarter stood at Rs 2,398 crore, growth of 14.63% as compared to Rs 2,092 crore in quarter ended December 2010 and
Consolidated net sales for the quarter ended March 2011 was Rs 2,556.2 crore, more than 14.1% growth over Rs 2,240.4 crore in same quarter the previous year.
Numbers were better-than-expected - CNBC-TV18 poll saw net profit at Rs 299 crore and sales of Rs 2,430 crore.
Consolidated profit before tax declined 14.7% to Rs 481 crore from Rs 564 crore on year-on-year basis.
The company reported earnings before interest, depreciation, tax and amortisation (EBIDTA) margin at 22.9% versus 29.2% (YoY).
Sales volume increased 10.4% to 6.16 million tonne in the quarter ended March 2011 as against 5.58 million tonne in same quarter the previous year.
Total expenditure incurred by ACC in the January-March quarter went up by 23% to Rs 2,119 crore on year-on-year basis.
Consumption of raw material went up 40.7% to Rs 470 crore from Rs 334 crore and power and fuel cost increased by 22% to Rs 482 crore from Rs 395 crore on year-on-year basis.
Interest cost jumped 86% to Rs 25.3 crore from Rs 13.62 crore.
Realization remained challenged for the company due to steep escalations in input cost.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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