India’s ACC, a subsidiary of Holcim, has reported its results for the first quarter, with overall cement sales volumes declining as demand weakens. In 1Q14, sales of cement reached 6.48 million t, while in 1Q15 they were down to 5.82 million t. Correspondingly, sales turnover was down y/y at Rs.2885.44 crore from Rs.2967.14. Operating EBITDA increased from Rs.425.07 crore in 1Q14 to Rs.609.48 crore in 1Q15. This is attributed to improvements in margins and an accrual of Rs.139.74 crore related to backdated incentives from the State of Jharkhand.
Net profit after tax reached Rs.236.54 crore, down from Rs.399.85 in 1Q14.
ACC is expecting cement demand to improve in the next two quarters and is intending to maintain its focus on performance.
Adapted from press release by Katherine Guenioui
Read the article online at: https://www.worldcement.com/asia-pacific-rim/15042015/acc-reports-weakened-cement-demand-in-1q15-results-682/
