ACC, the cement and building material company of the diversified Adani Group, has reported a growth of 105.03 per cent in its net consolidated profit during the quarter ended June 30, 2023. Its profit after tax stood at Rs 466.14 crore in Q1 FY24 as against Rs 227.35 crore it registered 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 5,270.02 crore in Q1 FY24, a growth of 16.54 per cent from Rs 4,522.20 crore it recorded in the similar quarter last year.
Ajay Kapur, whole time director & CEO of the company said, “We are delighted to report a strong performance in the first quarter of FY 2023-24, with a 16.4% increase in revenue and 105% increase in PAT compared to the previous year same quarter.”
Its volume increased by 23.2% year-on-year at 9.4 MioT supported by increase in blended cement and improvement in efficiency parameters. Kiln fuel cost reduced by 15.5% from Rs. 2.52 per ‘000 kCal to Rs. 2.13 per ‘O00 kCal.
Ametha Integrated Unit is expected to be commissioned by Q2 FY24 which will increase clinker capacity by 3.3 MTPA (EC approvals in hand for 2.75 MTPA) and Grinding capacity by 1 MTPA.
