![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Name | Symbol | Market | Type |
---|---|---|---|
Acc Gds (Regs) | LSE:AMCD | London | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
RNS Number:1531T ACC Limited 25 April 2008 ACC MEDIA PRESS RELEASE 1) 1st Quarter (January-March 2008) Standalone Results Quarter Quarter Growth Jan-Mar Jan-Mar 2007 ( % ) 2008 Sales Volume Million Tonnes 5.40 4.93 9.5 Sales Turnover Rs. Crore 1795.75 1674.96 7.2 Profit Before Tax Rs. Crore 495.82 477.11 3.9 Net Profit after Tax Rs. Crore 357.54 355.65 0.5 The Company has transferred the Ready Mixed Concrete Business to its wholly owned subsidiary ACC Concrete Limited with effect from January 1, 2008. As a consequence, the results for the quarter ended March 31, 2008 are not comparable with the corresponding period of the previous year. Sales turnover for the current quarter works out to be 12.6% higher after adjusting RMX sales turnover of previous quarter ended March 31, 2007 to make it comparable. During the quarter January-March 2008 the Company sold 5.40 million tonnes of cement compared to 4.93 million tonnes of cement- up by 9.5%. Despite constraints in wagon availability and other bottlenecks the company sought to maximize production to ensure wider availability of cement in all its important markets. During the quarter, costs went up by 12 % due to significant cost pressures in respect of major inputs such as coal, gypsum, power, freight, etc. Coal price increased by around 31% while raw materials and other inputs also increased considerably. Excise duties on bulk cement and clinker were raised even though cement is already a highly taxed commodity. Despite all these unprecedented cost push factors, the company absorbed most of this escalation. Accordingly our cement prices went up by only 3 per cent quarter on quarter basis. This is far lower than the increase in the cost of most other building materials over the same period. -2 - As a result, our operating margins declined by 4.4% on quarter on quarter basis. Profit before Tax (including exceptional item of Rs.36.57 crore) for the quarter increased to Rs.495.82 crore as compared to Rs.477.11 crore (including exceptional item of Rs. 7.70 crore) for the corresponding period of the previous year, up by 3.9%. Profit after Tax for the quarter of Rs.357.54 crore is higher by 0.5% as compared to Rs.355.65 crore for the corresponding period of the previous year. 2) New Projects/Modernisation The implementation of Bargarh, New Wadi and Chanda expansion projects are progressing, and these projects will add 7.2 MT of cement capacity by year 2010. 3) Outlook The Economy is experiencing slightly lower growth than last year due to fluid global economic conditions. The housing, construction and infrastructure sector continue to record good growth which will help Cement Industry. Overall, the cement industry recorded a growth rate of about 8.6% during the current three months ended March-08 as compared to the corresponding previous period. While the outlook for demand and supply is positive, the industry faces challenges of meeting steep cost escalations which exerts pressure on margins. ( Sumit Banerjee ) Managing Director Mumbai - April 24, 2008 This information is provided by RNS The company news service from the London Stock Exchange END QRFIAMJTMMMTBFP
1 Year Acc Gds (Regs) Chart |
1 Month Acc Gds (Regs) Chart |
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions