ACC posts 73% YoY rise in net profit

India’s ACC (LafargeHolcim) has reported a 73 per cent rise in net profit to INR4.72bn (US$64.82m) in the December quarter, compared to INR2.73bn in the year-ago period. Revenue advanced two per cent YoY to INR40.66bn from INR39.7bn, while EBITDA increased 30 per cent YoY to INR7.01bn.

Cement sales volumes were largely flat at 7.71Mt from 7.76Mt in the October-December 2019 period.

"We are encouraged by the government's increased spending on infrastructure development, particularly roads, railways, affordable housing and other schemes, as announced in the recent Union Budget, and the pro-active measures will open up more opportunities for the cement sector which will stimulate cement demand and enhance economic growth," said the company in a statement.

In January the company commissioned a new 1.4Mta grinding unit at Sindri in Jharkhand.