Cement major, ACC has recorded a whopping 189.2 per cent increase in its net profit during the first quarter of the year from January to March, 2013 compared to the same quarter of the previous year.

The company recorded a strong growth in net profit even as its consolidate earnings before interest, taxation, depreciation and amortization (EBITDA) fell 24.09 per cent to Rs 491.57 crore during the first quarter of 2013 compared to the first quarter of 2012. The company was able to record an impressive 189.2 per cent increase mainly due to a write back of tax provision of Rs 140.83 crore in during the first quarter of the 2013 and inclusion of additional depreciation charge of Rs 335.38 crore in during the January to March quarter of 2012.

The company noted that usually the first quarter records strong demand for cement but this year the demand remained low due to overall slowdown in the infrastructure and general construction segments. ACC also said that the company's efforts to achieve cost leadership and delivering enhanced customer value has also helped enhance its earnings. The efforts helped the company in areas of manufacturing, sales, logistics and procurement processes and allowed it to control inflationary pressures on the costs of its inputs and transportation.