ACC posts Q2 PAT of Rs 200 cr

New Delhi: ACC Ltd, a cement manufacturer, announced a net profit of Rs 199.7 crore for the second quarter ending on September 30, 2024. ACC Ltd reported a profit after tax (PAT) of Rs 387.88 crore in the same period last fiscal year, as stated in a regulatory filing. Revenue generated in the second quarter was Rs 4,613.52 crore, which was higher than the Rs 4,434.73 crore recorded in the same period last year. ACC reported that its revenue in the second quarter is the greatest it has been in the past five years due to an increase in trade sales volume and a higher proportion of premium products in trade sales. Total costs rose to Rs 4,452.73 crore from Rs 4,127.11 crore.

ACC Ltd Sees Growth Potential Post-ACCPL Acquisition, Anticipates 4-5 pc Cement Demand Increase by FY25

The financial results for the quarter and half year ending on September 30, 2024 cannot be compared to the previous year's periods due to the inclusion of Asian Concretes and Cements Pvt Ltd (ACCPL) in the consolidated financial results after ACC Ltd acquired control on January 8, 2024, as stated in the filing. ACC purchased the remaining 55  pc of the voting shares of ACCPL and its wholly-owned subsidiary AFCPL for Rs 422.63 crore. ACC Ltd's CEO Ajay Kapur stated that the increase in their business is due to strong interest in top-notch cement products in all areas. He also mentioned that our financial performance this quarter, driven by increased volumes, cost reduction, improving efficiencies, and flexibility, is setting the stage for our growth plan for FY'25 and beyond.     The company stated that the industry anticipates an increase in demand in the second half of FY25 due to a resurgence in construction and housing activity after the monsoon season.

ALSO READ: ACC Q2 FY25 नि फिथाय: मुलाम्फाया बोसोर बोसोराव 49 जौखोन्दो खमायनानै 200 कौटि रां जाबाय; खाजोनाया 4% बारायदों।

The government's ongoing emphasis on building infrastructure such as roads, highways, railways, and metros will remain the primary factor driving demand, according to the statement. The company stated that the approval of more houses under Pradhan Mantri Awas Yojana (for rural and urban areas) and an increase in industrial and commercial investments are anticipated to significantly boost future demand for cement. "It was added that there is anticipation for a 4-5 per cent increase in cement demand by the end of FY 2025."

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