ACC slides after Q4 PAT slumps 60% YoY

ACC declined 1.32% to Rs 1,943.30 after the cement major's consolidated net profit tumbled 59.7% to Rs 113.19 crore in Q4 December 2022 as against Rs 280.85 crore in Q4 December 2022.

Net revenue rose 7.4% YoY to Rs 4,536.97 crore in the quarter ended 31 December 2022.

During the December 2022 quarter, cement volume remained constant compared with the same quarter last year. Ready Mix Concrete registered a volume growth of 8.22% over the same quarter last year.

Power and fuel expenses in Q4 CY22 stood at Rs 1,130.16 crore, up 20.05% YoY.

EBITDA declined 31.31% YoY to Rs 419 crore in Q4 December 2022, on cost optimization and leveraging synergies from adjacency businesses of Adani Group. EBITDA margin slipped to 9.4% in Q4 CY22 as against 14.7% in Q4 CY21.

Ajay Kapur, whole time director & CEO of ACC said, "Higher demand for cement due to a pickup in construction activities and our relentless focus on operational excellence, reduction in fuel and logistics costs by leveraging on synergies with Group's adjacencies, improvement & expansion of our dealer network to serve nearest markets, helped us to clock a robust sequential growth in our top line and margins. With the rise in construction activities across our markets, we see the continuation of the elevated demand and strong volumes in the coming quarters as well.

"During the quarter, AFR Consumption volume increased by 33% due to various debottlenecking initiatives and strong focus on cost optimization, he added.

ACC is a part of Adani Cement and one of India's leading producers of cement and ready-mix concrete. ACC has 17 cement manufacturing sites, over 83 concrete plants and a nationwide network of channel partners to serve its customers.

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