ACC's profit tumbles 60% in April-June, revenue rises 15%

Cement manufacturer ACC, which was recently bought by the Adani group along with Ambuja Cement in a $10.5 billion deal, announced a 60 percent year-over-year decline in its consolidated after-tax profit (PAT) to Rs 2, 27 billion for the quarter ended June 30, 2022, on Thursday. According to the financial figures, the consolidated PAT amounted to Rs 5.69 billion in the same period last year. For the quarter under review, Bloomberg's consensus forecast put net profit in the previous quarter at Rs 2.96 billion and revenue at Rs 43.9 billion.

Consolidated sales for the quarter were up 15 percent year on year to Rs 44.68

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