Mumbai, Feb 3 (PTI) Cement manufacturer ACC todayreported a 31.1 per cent decline in profit after tax (PAT)at Rs 1,077.53 crore for the year ended December 31 due torise in input cost and fall in selling prices.
The PAT stood at Rs 1,563.91 crore in the previousyear, a company said in a statement here.
"The profits were adversely affected by fall inselling prices as well as by escalations in the costs of majorinputs such as slag, fly ash, coal and power," it said.ACC''s consolidated sales also declined by 2.6 per centat Rs 8,258.77 crore during the period under review from Rs8,479.55 crore, it said.
The cement maker said it is bullish on strengtheningits supply chain, customer servicing and brand visibility.
The shares of ACC closed at Rs 985.85, down 3.10per cent, on Bombay Stock Exchange.