ACC Q2 net up to Rs 12 crore

MUMBAI, Oct 28: The operating profit of the cement major, ACC in the second quarter ended September 1998 showed an improvement over corre...

MUMBAI, Oct 28: The operating profit of the cement major, ACC in the second quarter ended September 1998 showed an improvement over corresponding period last year with somewhat better net sales realisation on cement. The net profit during the second quarter higher amounted to Rs 12.62 crore against Rs 3.73 crore same period last year.

However, during the half year ended September 1998, the net profit was maintained at 21.10 crore against Rs 21.21 crore same period last year. The company had earned a net profit of Rs 13.44 crore in the entire fiscal 1998.

The net sales, income from operations during the first half amounted to Rs 1191.87 crore (Rs 1172.87 crore). The gross profit before interest higher amounted to Rs 153.98 crore (Rs 130.78 crore).The provision for interest higher amounted to Rs 79.34 crore (Rs 58.27 crore).The company has earned a slightly higher gross profit of Rs 74.64 crore (Rs 72.51 crore).

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The operating expenses during the quarter were maintained at a lower level despite an allround inflation in coal, power and manpower costs etc. The economic slow-down and the considerable supply overhang of cement continued during the quarter.

The provision for depreciation amounted to Rs 51.06 crore (Rs 40.62 crore) and for taxation at Rs 2.48 crore (Rs 2.50 crore).

Modi will address a rally in the district and open the Purnea airport that will provide air connectivity to several metro cities, fulfilling a longstanding demand in the Seemanchal region.

PM Modi to open Purnea airport, launch Makhana Board in Monday’s visit to poll-bound Bihar

India2 hr ago

PM Modi will visit Purnea, Bihar, on Monday to inaugurate projects worth Rs 36,000 crore, including an airport and launch the National Makhana Board. The visit is aimed at boosting development and addressing the neglected Seemanchal region. PM will also announce projects worth Rs 35,461 crore and distribute benefits to beneficiaries under different schemes.

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