ACC Q1 Net Falls To Rs 392.88 Crore

ACC Q1 Net Falls To Rs 392.88 Crore Cement giant ACC announced a fall in its net profits for the three month period ended March 31, 2010.

The company attributed the decline in its quarterly income to non-availability of railway wagons.

For the first quarter, ACC's net profit declined 1.6% to Rs 392.88 crore as against the same period of the last year.

The company's quarterly sales dropped 2.6% to 5.58 million tonnes.

In a stock exchange filing, the company stated, "During the quarter, several of our cement units faced despatch constraints due to non-availability of railway wagons, as a result of which our sales volume were near flat. But we were able to register some increase in sales turnover, driven by price improvements in a few regions."

Turnover, however, saw a modest 3.5% increase because of improvements in price in some zones.

The company's stock lost 1.12% to trade at Rs 1,720 in the afternoon trade. (With Inputs from Agencies)