February 8, 2018 / 11:45 AM / 14 days ago

ACC posts 126 percent surge in fourth-quarter profit

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

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