ACC Q2 Results: Cement maker reports Rs 384 crore standalone profit vs loss a year ago

Cement maker ACC on Thursday announced a standalone net profit of Rs 384.29 crore for the quarter ended September 30, 2023, versus a loss of Rs 91.09 crore posted by the company in the corresponding quarter of the last financial year.

However, on a quarter-on-quarter (QoQ) basis, the Adani Group company reported a 17% decline in profit. The company had reported a net profit of Rs 463.93 crore in the June ended quarter.

The standalone revenue from operations for the reporting quarter stood at Rs 4,434.67 crore which was up 11.2% from Rs 3,987.34 crore in the year-ago period. In Q1FY24, the company reported revenue of Rs 5,279.35 crore.

Half yearly standalone net profit stood at Rs 848.22 crore which soared 547% from Rs 131.08 crore on the year-on-year (YoY) basis.

The earnings were announced during market hours and the stock was trading flat on the NSE, though the bias remained positive.

On a half yearly basis, the revenue from operations stood at Rs 9,635.78 crore which was up 14% YoY from Rs 8,455.73.

Segment wise, the revenue from cement stood at Rs 4,151.29 crore for Q2FY24 which was up from Rs 3,691.20 crore in Q2FY23 while the ready mix concrete segment reported revenue of Rs 308 crore for the reporting quarter versus Rs 353.26 crore.Assets Vs Liabilities
Total assets at the end of the reporting quarter stood at Rs 21,991 crore which was up from Rs 19,634.54 crore in the corresponding quarter of the previous financial year. Total liabilities stood at Rs 7,273.44 crore which was up from Rs 5,957.36 crore in the year ago period.

At Rs 4,127 crore, the total expenses incurred by the company for the said quarter were nearly same as reported by the company in the year ago period at Rs 4,162 crore. However, they were lower 11% on the sequential basis Rs 4,656.26 crore.

(You can now subscribe to our ETMarkets WhatsApp channel)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

(What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

Top Trending Stocks: Sensex Today Live, SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price