ACC Q2 net profit stands at Rs 405.58 crore

Mumbai, July 19 (UNI) Associated Cement Companies Ltd (ACC) has posted a profit after provision for taxation&exceptional item of Rs 405.58 crore for the quarter ended June 30, 2006 as compared to Rs 142.44 crore for the quarter ended June 30, 2005.

Announcing the results, the company said its total income (net of excise) is Rs 1477.63 crore in Q2 FY 06-07 as compared to Rs 1165.43 crore for Q2 FY 05-06.

During the previous period, the Company divested certain non core business while merging cement businesses carried on by its subsidiaries with itself. As a result some events have been effected in the accounts such as Amalgamation of Bargarh Cement Ltd (BCL) and Domadhar Cement and Slag Ltd (DCSL) with effect from April 01, 2005 and Divestment of Refractory Business effective September 30, 2005.

Accordingly, the results for the quarter and six months ended June 30, 2006 are not comparable with the respective previous periods.

As per the Consolidated Results, the Group has posted a profit after provision for taxation&exceptional item of Rs 411.79 crore for the quarter ended June 30, 2006 (Q2 FY 06-07) as compared to Rs 148.95 crore for the quarter ended June 30, 2005 (Q2 FY 05-06).

Total Income (net of excise) is Rs 1493.88 crore in Q2 FY 06-07 as against Rs 1242.61 crore for Q2 FY 05-06.

During the previous period, the Company divested certain non core business such as divestment of Refractory Business with effect from September 30, 2005 and divestment of stake in Everest Industries Ltd (EIL) erstwhile subsidiary effective October 14, 2005.

Accordingly, the results for the quarter and six months ended June 30, 2006 are not comparable with the respective previous periods.

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