Coal news and updates

ACC sees no significant increase in demand in near–term

February 7: Going by the current trends, domestic demand for cement is unlikely to improve in the near-term, the management of ACC Limited, the second-largest cement- maker of India, said in a statement while declaring its annual results.

The company reported a 9.7% increase in net profit during the October-December quarter (fourth quarter) of 2013 to Rs 275.71 crore compared to 521.24 crore in the fourth quarter of 2012, mainly on account of improved operating costs, the release said.

Income from operations during the quarter increased slightly to Rs 2,693.42 crore from Rs 2,691.52 crore in the same quarter a year ago.

For the year ended 2013, net profit of the company increased 3.34% to Rs 1,094.67 crore compared to Rs 1059.28 crore in 2012 while sales turnover for the year ended 2013 fell to Rs 10,908.41 crore from Rs 11,130.56 crore in 2012.

"Though sales realisations were lower, the company was able to offset inflationary pressures in the cost of major inputs by managing its operating costs. The economic environment of the county impacted the demand of cement and concrete. As a result, the company's cement volumes remained flat," the statement said.

During 2013, the company's cement sales stood at 23.93 million tons (mt) from 24.11 mt in 2012.

The following table gives quarter-on-quarter and yearly performance of ACC Limited in 2013 and 2012 (in Rs crore):