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ACC’s net profit increases 24% at Rs 450.21 crore in Q3 2021

ACC has reported a 24 percent increase in its net consolidated profit during the quarter ended September 2021. It recorded a Profit After Tax (PAT) of Rs 450.21 crore in Q3 2021 as against Rs 363.85 crore it registered in the corresponding quarter previous fiscal, the company said in a BSE filing.

The company’s total income stood at Rs 3,812.31 crore in Q3 2021, a increase of 6 percent from Rs 3,582.82 crore it recorded in the similar quarter last year.

ACC said that it is committed to reduce Scope 1 GHG emissions 21.3% per ton of cementitious material by 2030 from a 2018 base year and Scope 2 GHG emissions 48.4% per ton of cementitious material within the same timeframe.

“ACC has recorded solid performance during the quarter through operational excellence and focus on sustainability while meeting customers’ needs. It is a commitment towards the 2030 intermediate targets to reduce greenhouse gas emissions, as approved by the Science Based Target initiative (SBTi),” said Sridhar Balakrishnan, Managing Director and CEO of the company.

Net sales during the quarter increased to Rs 3,653 crore, a growth of 5% from Rs 3,468 crore recorded in previous year, it said in a media release.

Revenue from ready-mix concrete stood at Rs 305.07 crore in Q3 2021, as against Rs 196.57 crore in the previous fiscal. Ready-mix concrete sales increased by 46 percent year-on-year in the said quarter.

Ankit Sharma, ET Realty, Delhi/NCR

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