Cement maker ACC's profit tumbles 60% in April-June, revenue rises 15%

Cement maker ACC, which was recently acquired by the Adani group along with Ambuja Cement in a $10.5-billion deal, on Thursday reported a 60 per cent year-on-year decline in consolidated profit after tax (PAT) to Rs 227 crore for the quarter ended June 30, 2022. In the corresponding period last year, consolidated PAT stood at Rs 569 crore, its financial results show.

Bloomberg consensus estimates had pegged net profit at Rs 296 crore and revenue at Rs 4,390 crore for the period under review.

Consolidated revenue for the quarter grew 15 per cent year-on-year to Rs 4,468 crore, up from