REUTERS - Cement maker ACC Ltd’s (ACC.NS) quarterly profit more than doubled, beating analysts’ expectations, helped by strong cement sales volume growth.
Profit rose to 1.82 billion rupees ($28.0 million) in third quarter ended Sept. 30, from 897.1 million rupees a year earlier. (bit.ly/2goduYv)
Cement sales volume rose about 18 percent to 5.96 million tonnes in the quarter.
Sales volume growth was aided by capacity stabilization of the Jamul plant in Chhattisgarh and the Sindri plant in Jharkhand, the company said on Tuesday.
Analysts on average had expected the company to post a profit of 1.66 billion rupees, according to Thomson Reuters data.
($1 = 64.9000 Indian rupees)
Reporting by Vishal Sridhar and Arnab Paul in Bengaluru; Editing by Sunil Nair and Amrutha Gayathri