ACC is a bright star

ACC is a bright star on the bourses today. The second top gainer on the BSE currently, the stock price jumped up over 6% to Rs.1482.90, with a robust surge in volumes. Its 52-week high is at Rs.1869 and low at Rs.1255.

The stock is reacting positively to its earnings for the April-June quarter wherein it beat most estimates. On a 11% (YoY) rise in revenue at Rs.3848 crore, the company posted a 1% jump in net profit at Rs.325 crore. What really helped was effective cost management – the higher prices of energy and slag was offset by its other cost cutting measures.

EBITDA was down 2% at Rs.625 crore and margins fell 220 bps to 16.2%.

Its realization per tonne was up 6% at Rs.5204. Volumes were up 7% at 7.24 mtpa.

The company follows a January-December financial year.