ACC posts net profit of Rs 387.88 crore in Q2 FY24, Real Estate News, ET RealEstate

October 26, 2023

NEW DELHI: ACC, the cement and building material company of Adani Group, has reported net consolidated profit after tax of Rs 387.88 crore during the quarter ended September 30, 2023. It had registered net consolidated loss after tax of Rs 87.32 crore in the corresponding quarter of the previous fiscal, the company said in a BSE filing.

The company’s net consolidated total income stood at Rs 4,644.78 crore in Q2 FY24, a growth of 14.49 per cent from Rs 4,057.08 crore it recorded in the similar quarter last year.

Ajay Kapur, whole time director & CEO of the company said, ” This commendable growth is attributed to the improved demand for our premium cement products up by 1.5 pp year-on-year at 32% of trade sales, net dealer addition 534 during quarter across all markets. In operational efficiencies, Electrical energy consumption improved by 6.4 kWh/t at 73.9 kWh/t with Clinker factor improvement from 57.2% to 56.6% coupled with reduction in Kiln fuel cost from Rs. 3.19 to Rs. 1.85 /000 kcal.”

Subsequent to the quarter and half year ended September 30, 2023, the holding company has incorporated ACC Concrete South and ACC Concrete West as wholly owned subsidiaries.

During the said quarter, the company has commenced commercial production of clinker with capacity of 3.3 million ton per annum at its integrated cement plant in Madhya Pradesh.

Clinker & Cement sales volume were up by 17.3% year-on-year at 8.1 million ton, kiln fuel cost reduced by 42 %, driven by fuel mix optimisation & higher Alternate fuel consumptions and Waste Heat Recovery System at Kymore & Jamul (22.4 MW) became fully

In addition, 16.3 MW at Ametha is expected to commission by Q3 FY24. Share of WHRS in total power consumption will increase to 9% by end of FY24 as against 2.9% last quarter.

  • Published On Oct 26, 2023 at 02:30 PM IST

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