ACC Q1 results: Adani firm posts 105% jump in net profit at Rs 466 cr; stock up 1.2%

Adani Group-owned ACC Ltd on Thursday reported 105% surge in net profit at Rs 466 crore for the quarter ended June 30, 2023. It reported net profit of Rs 227 crore in the year-ago period. 

The cement firm's revenue rose 16% at Rs 5,201 crore in the June quarter.

At 1320 hours on Thursday, ACC's scrip on BSE was trading 1.2% higher at Rs 1,945.9.

Ajay Kapur, Whole Time Director & CEO, ACC Limited said: "We are delighted to report a strong performance in the first quarter of FY24, with a 16.4% increase in revenue and 105% increase in PAT compared to the previous year same quarter. The growth was driven by robust demand for high-quality cement products across all markets, as well as our continuous efforts to optimize operations and reduce environmental impact. We have persistently strived to diminish carbon footprint by reducing the clinker factor, curbing thermal and electrical energy intensity, implementing Waste Heat Recovery Systems across facilities, and augmenting usage and capacity for renewable energy generation."