Latest News | ACC Shares Gain Nearly 4 Pc After Earnings Announcement

New Delhi, Oct 20 (PTI) Shares of cement maker ACC rose nearly 4 per cent on Tuesday after the company reported a 20.25 per cent increase in consolidated net profit for the quarter ended September 30.

The stock jumped 3.78 per cent to Rs 1,622 -- its 52-week high -- on the BSE.

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On the NSE, it gained 3.80 per cent to Rs 1,622.10 -- its one year high.

The company on Monday reported a 20.25 per cent increase in consolidated net profit to Rs 363.85 crore for the third quarter ended September 30.

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The company, which follows January-December financial year, had posted a profit of Rs 302.56 crore in the same quarter a year ago, ACC said in a BSE filing.

Its total revenue from operations was marginally up to Rs 3,537.31 crore during the quarter under review as against Rs 3,528.31 crore in the year-ago period.

ACC Managing Director and CEO Sridhar Balakrishnan said its "volumes and sales have bounced back to prior-year levels. Our efficiency and cost reduction plans have helped drive significant margin expansion during the quarter".

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)