ACC reports slow June quarter

ACC has reported its results for the April – June quarter (2Q15). Total consolidated turnover was down y/y at Rs.2961.21 crores compared to Rs.3008.99 crores in 2Q14. Operating EBITDA was also down at Rs.335.16 crores from Rs.452.12 crores. Cement sales volumes were 6.20 million t, down from 6.35 million t in 2Q14. The company attributes this to a challenging market with weak expenditure on infrastructure and housing. Surplus capacity in the industry also made for volatile cement prices.

The company’s Jamul clinkering project is scheduled to be commissioned by the end of this year, while the cement grinding units at Jamul and Sindri are expected to begin operations in 1Q16. Cement demand is expected to pick up over the next couple of quarters and in the meantime the company is concentrating on controlling costs.

Adapted from press release by Katherine Guenioui

Read the article online at: https://www.worldcement.com/asia-pacific-rim/20072015/acc-reports-slow-june-quarter-196/