July 17, 2017 / 11:14 AM / 5 days ago

ACC June-quarter consolidated profit rises about 33 percent, beats estimates

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A residential building undergoing construction is reflected on the glass facades of a commercial complex in Chennai September 30, 2013.Babu/Files

REUTERS - Cement producer ACC Ltd (ACC.NS) reported an about 33 percent rise in June-quarter consolidated profit, boosted by higher cement sales volume.

The company, a unit of the world's No.1 cement maker, LafargeHolcim Ltd (LHN.S), said consolidated profit rose to 3.26 billion rupees ($50.65 million) in the quarter ended June 30, from 2.46 billion rupees a year earlier. (bit.ly/2uA9VEo)

Analysts on average were expecting the cement maker to report a consolidated net profit of 2.59 billion rupees, according to Thomson Reuters data.

The company's cement sales volume rose 10.1 percent to 6.74 million tonnes in the quarter, it said in a statement on Monday.

($1 = 64.3600 Indian rupees)

Reporting by Krishna V Kurup; Editing by Amrutha Gayathri

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