ACC Ltd, the Adani Group cement manufacturer, reported a net profit of ₹748.54 crore for the fourth quarter of FY24, registering a sharp jump of 216% from ₹236.57 crore in the same period last year.
The company’s revenue from operations in Q4FY24 rose 12.67% to ₹5,398.11 crore from ₹4,790.77 crore, year-on-year (YoY).
The company’s consolidated sales volume during the quarter rose to 10.4 million tonnes from 8.5 million tonnes in the year-ago quarter. In FY24, the sales volumes increased to 36.9 million tonnes from 30.7 million tonnes.
Operating performance of the Adani Group company improved during the quarter as Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) increased 79.5% to ₹837 crore from ₹467 crore, while EBITDA margin expanded by 570 basis points (bps) to 15.5% from 9.8%, YoY.
ACC’s EBITDA per tonne in Q4 rose 45% to ₹802 as against ₹554, YoY.
The Board of Directors of ACC recommended a dividend of ₹7.50 per equity share of face value of ₹10 each fully paid-up for the Financial Year 2023-24, subject to approval of shareholders of the Company.
The company has fixed Friday, 14th June 2024 as ‘Record Date” for dividend. The said dividend, if declared by the shareholders at the ensuing AGM, shall be paid on or after 1st July 2024, ACC said.
At 3:10 pm, ACC share price was trading 0.82% higher at ₹2,578.90 apiece on the BSE.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download The Mint News App to get Daily Market Updates & Live Business News.
Published: 25 Apr 2024, 02:55 PM IST