ACC, yesterday after market hours reported a 30% (YoY) decline in consolidated net profit at Rs.396 crore though QoQ, it rose 41%.
The revenue was up 3% (YoY) at Rs.4427 crore.
There was a visible reduction in manufacturing costs and higher operational efficiencies under Parvat programme, complemented by rationalisation of logistics costs through a master supply agreement (MSA) with Ambuja Cement.
The company plans to increase capacity to 45-50 million tonne per annum over the next two-to-three years while an additional capacity of 5 million tonnes is going onboard soon in its profitable region of central India.
The market seems to be happy with these developments and figures among the top five gainers on the BSE currently. The stock opened slightly in the green at Rs.2063 but soon rose over 6% to hit an intraday high at Rs.2182.35 on the back of a 2.5-times jump in volumes.