ACC Jan-Mar 2023 net profit dips over 40 pc; revenue up 8 pc

Ahmedabad (Gujarat) [India], April 28 : ACC Limited, a cement maker and part of the diversified Ad Group, announced the financial results for the quarter and full year that ended in March 2023.

ACC Ltd on Thursday informed stock exchanges its consolidated net profit during the January-March quarter declined 40.53 per cent to Rs 235.66. in the same quarter last year, the company posted a net profit of Rs 396.33 crore.

However, its total revenue from operations during the January-March quarter rose 8 per cent to Rs 4,790.91 crore. In the same quarter last year, it was Rs 4,426.54 crore.

ACC's revenue from operation during January 2022-March 2023 (full financial year) was at Rs 22,210.18 crore

Further, its sales volume (Cement and Clinker) was at 8.5 million tonnes during the quarter as against 7.9 million tonnes same quarter last year.

"Our transformation journey fuelled by sizeable operational efficiencies, improved synergies and business excellence has led to substantial improvement in our financial performance and overall business indicators. We have a detailed blueprint on each of the cost factors and initiatives to reduce and improve," said Ajay Kapur, Whole Time Director and CEO, of ACC Limited.

"Our long-term competitiveness remains intact, giving us industry-leading profitability, even as we pursue our growth aspirations. We are confident of continuing our journey of strong performance in the coming quarters," Kapur added.

The Board of Directors of the company has recommended a dividend on equity shares at Rs 9.25 per share.

A dividend is a reward that compes often provide to their shareholders, though not mandatory, from a portion of their earnings.