ACC sees EBITDA rise 21% in the 3Q20

India’s ACC Ltd has reported a 19.8 per cent YoY increase in consolidated profit after tax to INR3.64bn (US$49.59m) for the 3Q20, against INR3.03bn during the same period last year. Operating EBITDA also advanced 20.5 per cent YoY to INR6.71bn from INR5.57bn.

Overall net sales remained flat at INR34.68bn from INR34.64bn in the July-September period last year.

The company saw net sales growth of four per cent YoY in its cement segment, with sales volumes also reaching 6.49Mt from 6.44Mt in the 3Q19.

"The company believes that our country's economic recovery is underway and the economy will bounce back strongly in the next few quarters. The government's thrust on infrastructure development, increased spending through measures aimed at reviving the rural economy and a sharper focus on the affordable housing segment is expected to drive strong resurgence of cement demand and bring growth opportunities for the cement sector going forward," said the company.

ACC’s board also approved the appointment of MR Kumar as an additional director of the company.