ACC Quarterly Profit Drops 91 Percent
Adani Group cement maker ACC reported a 91 percent drop in second quarter net profit due to weaker sales volumes and higher fuel costs. Revenue declined 4.7 percent to 56.12 billion rupees during the quarter.
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ACC LTD posted a 91% drop in standalone net profit-after-tax to 1.01 billion rupees ($10.62 million) for the quarter ended September 30. The steep decline in India's second-quarter earnings came amid soaring fuel costs and weaker sales volumes. The Adani Group-owned cement maker faced mounting operating pressures that outpaced pricing gains across the sector.
