Associated Cement Company Q3 net at Rs 225 cr

Mumbai, Oct 19 (UNI) Cement major Associated Cement Company Ltd (ACC) has posted a net profit of Rs 224.68 crore for the quarter ended September 30 as compared to Rs 228.29 crore for the corresponding quarter the previous year.

Announcing the results, the company said its total income is Rs 1,395.20 crore for the quarter ended September 30, whereas the same was at Rs 1,036.76 crore for the similar period a year ago.

During the previous financial year the company divested certain non-core businesses, while merging cement businesses carried on by its subsidiaries with itself. As a result, the amalgamation of Bargarh Cement Ltd (BCL) and Damodhar Cement&Slag Ltd (DCSL) have been effected in the accounts with effect from April 1, 2005. That apart, divestment of Refractory Business had come into effect from September 30, 2005.

Accordingly, the results for the quarter and nine months ended September 30 are not comparable with the respective previous periods.

As per the consolidated results, the Group has posted a profit after provision for taxation and exceptional item of Rs 225.27 crore for the quarter ended September 30, whereas the same at Rs 224.74 crore for the quarter ended September 30 last year. Total Income is Rs 1,411.34 crore for the quarter ended September 30, whereas the same was at Rs 1,094.60 crore for the corresponding quarter last fiscal.

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