REUTERS - Cement maker ACC Ltd (ACC.NS) said on Thursday its fourth-quarter profit more than doubled from a year earlier and beat analysts’ expectations.
Profit rose 126 percent to 2.06 billion rupees ($32.06 million) in the quarter ended Dec. 31, from 908.7 million rupees a year earlier, the company said in a statement. bit.ly/2GVii09
Net sales were up 30 percent at 34.17 billion rupees.
Analysts on average had expected the company to post a profit of 1.85 billion rupees, according to Thomson Reuters data.
ACC shares were trading 3 percent higher after the results.
($1 = 64.2550 Indian rupees)
Reporting by Vishal Sridhar in Bengaluru; Editing by Subhranshu Sahu