India: ACC's third-quarter sales in the 2022 financial year were US$501m, up by 6% year-on-year from US$472m in the third quarter of the 2021 financial year.Its cement sales were 6.57Mt, up by 1.2% from 6.49Mt, while its costs rose by 5.3% to US$428m from US$406m. Press Trust of India News has reported that the company's net profit in the quarter rose by 24% to US$60.1m. The company attributed its 'solid' quarterly performance to its focus on sustainability while meeting customers' needs.
Managing director and chief executive officer Sridhar Balakrishnan said "Despite a steep increase in fuel costs, our cost efficiency measures under Project Parvat have enabled us to maintain robust performance." Regarding the full-year outlook, he added "We are positive that the cement sector will benefit from increasing demand in various sectors such as housing, commercial and industrial construction."
