ACC Ltd Consolidated Net Profit rises 6.1 Percent in 2014

Cement maker ACC Ltd Tuesday said its consolidated net profit for 2014 stood at 6.1 percent as the net profit registered at Rs. 1161.82 crore compared to Rs. 1094.67 in the calendar year 2013. Consolidated net revenue during 2014 increased by 5.4 percent at Rs. 11,480.31 crore compared to Rs. 10,889.08 crore in 2013 with the company focusing on optimising its operational cost.

ACC Ltd said its costs rose in the fourth quarter of the 2014 fiscal year as a result of temporary suspension of limestone mining operations in the plants at Chaibasa in Jharkhand and Bargarh in Odisha as per order from the Supreme Court. It is, however, expecting the operations in these plants to commence shortly post the new mining ordinance. It is expecting to complete a 2.79 MT capacity clinkering project in Jamul in Chhattisgarh and another 1.35 MT grinding project in Sindri in Jharkhand this year.

“Based on present indications, we see a modest but steady revival of the Indian economy in 2015 leading to some improving trends in all sectors of the economy. The infrastructure, housing and construction sectors are expected to register faster growth in the near term with a positive impact on the demand of cement,” the company said in a statement. The company has 17 cement plants and was one of the first of its kind in India to include environment protection as a corporate commitment. (IANS)