ACC ltd on Monday announced its Q2 FY2021 results. The company reported a net profit of Rs 363.84 crore for the September quarter, a 20% growth YoY. It had posted a profit of Rs 302.56 crore in the corresponding quarter previous year.
The cement producer posted a total income of Rs 3582.82 crore during the Q2 FY2021 period as compared to Rs 3579.11 crore during the FY2020 period.
The Mumbai based company has reported Earnings per Share (EPS) of Rs 19.33 for the period. It had posted EPS of Rs 14.39 for the previous Q1 June period.
“Despite COVID-19 headwinds, Indian economy is witnessing early signs of recovery. At ACC, this recovery has been reflected in our Q3 results where our volumes and sales have bounced back to prior year levels. Our efficiency and cost reduction plans have helped drive significant margin expansion during the quarter. We continue to manage working capital effectively resulting in healthy cash flow delivery.
Our focus continues to remain on ‘Health, Cost and Cash’. We have resumed operations at all locations following mandated safety protocols to ensure health and safety of our employees and the communities in which we operate. With our efficiency programs in place, supported by a team with a high level of preparedness, I am confident of ACC delivering a strong performance going forward.” said Sridhar Balakrishnan, Managing Director & CEO.
