ACC announces 11% YoY revenue increase in 2Q18

India’s ACC Ltd has announced an 11 per cent YoY rise in revenue to INR38.48bn (US$557.85m) in the 2Q18, while EBITDA advanced 10 per cent to INR5.4bn. Profit remained largely flat, however, showing growth of one per cent to INR3.26bn.

Cement volumes increased 7.4 per cent to 7.2Mt in the period, with a positive outlook for demand forecast for the rest of 2018. 

"The economic upswing in 2018 supported by buoyant consumption, a normal monsoon and uptick in rural demand is expected to benefit the construction sector. We expect cement demand to be positive, driven by the ‘Housing for All’ programme, sustained infrastructure spends and rural housing. ACC anticipates that cost pressures will remain, largely due to a rise in fuel costs as well other input material costs. ACC will continue to focus on improving efficiencies" said the company in a statement.