ACC announces Q3 net profit of Rs.224.68 Crores, total income at Rs.1395.2 Crores

ACC Ltd has announced the following Unaudited results for the quarter ended September 30, 2006:

The Company has posted a profit after provision for taxation & exceptional items of Rs 2246.80 million for the quarter ended September 30, 2006 where as the same at Rs 2282.90 million for the quarter ended September 30, 2005. Total Income is Rs 13952.00 million for the quarter ended September 30, 2006 where as the same was at Rs 10367.60 million for the quarter ended September 30, 2005.

During the previous financial year the Company divested certain non core businesses while merging cement businesses carried on by its subsidiaries with itself. As a result, the following events have teen effected in the accounts:

(i) Amalgamation of Bargarh Cement Ltd (BCL) and Damodhar Cement and Slag Ltd (DCSL) w.e.f. April 01, 2005 and

(ii) Divestment Refractory Business w.e.f. September 30, 2005.

Accordingly, the results for the quarter and nine months ended September 30, 2006 are not comparable with the respective previous periods.

The Consolidated results are as follows:

The Group has posted a profit after provision for taxation & exceptional item of Rs 2252.70 million for the quarter ended September 30, 2006 where as the same at Rs 2247.40 million for the quarter ended September 30, 2005. Total Income is Rs 14113.40 million for the quarter ended September 30, 2006 where as the same was at Rs 10946.00 million for the quarter ended September 30, 2005.

During the previous financial year the Company divested certain non core businesses as mentioned below:

(i) Divestment of Refractory Business w.e.f. September 30, 2005 and

(ii) Divestment of stake in Everest Industries Ltd (EIL) erstwhile subsidiary w.e.f. October 14, 2005.

Accordingly, the results for the quarter and nine months ended September 30, 2006 are not comparable with the respective previous periods.

Source : Equity Bulls

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