ACC Q4 Results net profit surges 4 fold to Rs 945 crore:Adani Group’s cement company ACC Ltd has announced excellent results. During the quarter ending March 2024, the company’s profit (Profit After Tax – PAT) increased almost four times to Rs 945 crore. The net profit of the company in the same quarter last year was Rs 236 crore. According to the information given by ACC Limited in the regulatory filing, this jump in profit is the result of tremendous improvement in the sales of the company during the three months ending March 31, 2024.
Operating Income Rs 5,409 crore
Revenue from operations of the company increased to Rs 5,409 crore during the March quarter, which was Rs 4,791 crore in the same period last year. Talking about the results, ACC CEO Ajay Kapoor said that customer trust is a major factor behind the company’s success. Apart from this, the company has invested heavily in the use of green power and increasing efficiency, which is a symbol of our commitment to building a sustainable future. He said that the company has emerged stronger than before. The company’s board has recommended dividend at the rate of Rs 7.5 per share to its investors. ACC Limited, included in the Adani Group, is a unit of Ambuja Cements.
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Will benefit from government policies
While announcing its results, ACC has expressed confidence that the future outlook for the cement industry is quite positive. The company says that the government has increased the budget allocation for infrastructure development and construction. Besides, the government is also laying a lot of emphasis on affordable housing and green energy transition. Along with this, the demand-supply situation and increasing consolidation are also giving good signs for the industry.
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The company believes that the company will benefit from things like fast growth, reduction in costs and synergy of the group. This will help the company to strengthen its hold in the market by continuously performing better. Shares of the company closed at Rs 2,573.00 on NSE today with a rise of Rs 16.60 or 0.65% per cent.
