Two-fold rise in ACC profit
Cement maker ACC Ltd on Tuesday reported an over two-fold jump in consolidated net profit at Rs 181.53 crore for the third quarter ended September 30, driven by increased productivity and cost optimisation.
- Published 18.10.17
Mumbai: Cement maker ACC Ltd on Tuesday reported an over two-fold jump in consolidated net profit at Rs 181.53 crore for the third quarter ended September 30, driven by increased productivity and cost optimisation.
The company, which follows the January-December financial year, had clocked a net profit of Rs 89.73 crore in the July-September quarter a year ago, ACC said in a BSE filing.
Its consolidated sales rose 9.42 per cent at Rs 3,140.76 crore during the quarter under review against Rs 2,870.35 crore in the corresponding period a year ago.
"This strong result has been achieved through an increased focus on premium products, improved customer service levels and relentlessly driving productivity and cost optimisation," ACC managing director Neeraj Akhoury said.
During the quarter, ACC's cement sales stood at 5.96 million tonnes (mt), up 17.55 per cent, against 5.07 mt a year ago.
Credit ratings firm Crisil has reported a net profit of Rs 69.42 crore - flat from a year ago - for the September quarter of the current financial year.
It had registered a net profit of Rs 69.96 crore in the corresponding July-September quarter of the year-ago period.
"Crisil's consolidated income from operations was up 5.6 per cent at Rs 410.41 crore during the quarter, compared with Rs 388.76 crore in the corresponding quarter of 2016," it said.
Also, the board declared a third interim dividend of Rs 6 per share for the financial year ending December 31.
ICICI Lombard on Tuesday reported a 19.3 per cent growth in net profit at Rs 204.04 crore for the three months to September, driven by an improvement in its combined ratio and lower underwriting losses.
For the general insurance arm of ICICI Bank Group, this is first quarterly result after going public last month with a successful IPO. In the year-ago quarter the company had a profit of Rs 170.95 crore.
The underwriting loss also improved to Rs 85.07 crore from Rs 111 crore in the same quarter a year ago.