ACC Q1 Results: Net profit soars 105% to ₹466.14 crore; revenue growth at 16.4% YoY

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₹466.14 crore for the quarter ending June 2023. ACC Q1 net profit more than doubled from ₹227.35 crore in the corresponding period of last year. The company’s consolidated revenue in Q1FY24 increased 16.4% to ₹5,201.11 crore from ₹4,468.39 crore, YoY.

Volume during the quarter increased by 23.2% at 9.4 MT from 7.60 MT, YoY, supported by increase in blended cement and improvement in efficiency parameters. “The growth was driven by robust demand for high-quality cement products across all markets, as well as our continuous efforts to optimize operations and reduce environmental impact," said Ajay Kapur, Whole Time Director & CEO, ACC Ltd. Operating performance of the company during the quarter improved as earnings before interest, taxes, depreciation and amortization (EBITDA) rose 81% to ₹770.9 crore from ₹425.8 crore, YoY.

EBITDA margin in Q1FY24 improved by 530 basis points (bps) to 14.8% from 9.5%, YoY. Also Read: Dr Lal Pathlabs Q1 Results: Net profit jumps 44% to ₹84 crore, revenue up 8% YoY; declares dividend of ₹6 per share “Cement industry is in positive cycle of demand as well as cost factors. This is coming at the most appropriate time when the company is under transformation phase, buoyed by synergies with the group.

We expect the positive trend of industry to continue in coming quarter," the company said. Kiln fuel cost reduced by 15.5% from ₹2.52 per '000 kCal to ₹2.13 per 000 kCal. Energy efficiency, manpower productivity and other operational efficiency improvement measures have helped to optimise cost, the company said.