ACC Shares Surge 12% on Strong Q4 Earnings

New Delhi, Jan 25 (PTI) Shares of ACC Ltd on Thursday zoomed 12 per cent after the cement maker reported a more than four-fold jump in net profit in the quarter ended in December 2023.

The stock surged 10.81 per cent to settle at Rs 2,477.80 on the BSE. During the day, it jumped 14 per cent to Rs 2,551 -- its 52-week high.

At the NSE, it soared 11.97 per cent to Rs 2,509.

ACC Ltd on Thursday reported a more than four-fold jump in net profit to Rs 537.67 crore in the quarter ended in December 2023 helped by enhanced production efficiency and a reduction in kiln fuel cost.

The company had posted a profit of Rs 113.19 crore in the October-December quarter a year ago, ACC, now a part of Adani group, said in a BSE filing.

Its revenue from operations was up 8.31 per cent to Rs 4,914.36 crore during the quarter under review. It was Rs 4,536.97 crore in the corresponding period a year ago.

"Operating EBITDA (excluding other income) has grown 139 per cent, EBITDA margin expanded by 10 pp from 8.4 per cent to 18.4 per cent," said an earnings statement from ACC.

ACC's operational excellence initiatives continue to help in improvement of "productivity, performance and optimisation of cost," it added.

Moreover, its kiln fuel cost was also reduced 28 per cent, driven by the optimisation of fuel mix and higher consumption of alternative fuels.