ACC reports 74% rise in profit for the 1Q21

India's ACC (LafargeHolcim) has reported a 74 per cent rise in net profit for the first quarter of 2021, rising to INR5.63bn (US$75.33m) from INR3.23bn in the year-ago period. EBITDA also advanced 47 per cent YoY to INR8.6bn.

Revenue from sales surged 23 per cent YoY to INR42.13bn from INR34.33bn in the 1Q20. In particular, cement sales increased 22 per cent YoY to 8Mt and cement prices were up six per cent to INR4876/t.

As a result of its strong performance, the company has recorded its highest ever revenue and operating EBIT.

"The grinding unit expansion in Sindri was completed in record time and is fully operational. The execution of our greenfield project in Ametha and associated grinding units is progressing as per the plan. Additionally, our efficiency projects such as waste heat recovery are on track," said Sridhar Balakrishnan, managing director and CEO.

"We have demonstrated strong resilience which has been reflected in our performance this quarter. We aim to continue driving the four stated strategic priorities: Performance, Growth, Innovation and Sustainability."