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News Details

ACC Q4 net plummets 68.7 pct at Rs 102 cr

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11/02/2016 08:29
Cement maker ACC on Wednesday reported a decline of 68.71 per cent in its consolidated net profit at Rs 102 crore for the fourth quarter ended December 31, 2015, due to higher production cost coupled with unfavorable business environment. “The Holcim group company had posted consolidated net profit of Rs 326 crore for the quarter ended December 31, 2014,” ACC said in a filing to Bombay Stock Exchange. The net sales of company increased 3.04 per cent to Rs 2,846 crore in Q4FY15 from Rs 2,762 crore in Q4FY14. Sales volume in the last quarter of the year witnessed a turnaround with an improvement of 4 per cent to 6 million tonnes as compared to 5.77 million tonnes in the corresponding period of the previous quarter. Operating EBITDA in Q4 2015 stood at Rs 280 crore as compared to Rs 257 crore in the year ago period, registering a growth of 8.9 per cent. The company in a separate release said that the board of the company has recommended payment of a final dividend at the rate of Rs 6 per equity share of Rs 10 each. The total dividend for the year 2015 stands at Rs 17 per share as compared to total dividend of Rs 34 per share paid in 2014. Besides, the board has appointed Martin Kriegner as an Additional Director on the board of the company in the category of a Non-Executive and Non Independent Director with effect from February 11, 2016. Meanwhile, Bernard Terver, Director, has stepped down from the Board of Directors of the Company with effect from February 11, 2016 consequent upon his retirement from LafargeHolcim Ltd. Ahead of the announcement, shares of company ended Wednesday’s trade at Rs 1269.05 apiece, down 0.74 per cent, from previous close on BSE.