ACC reported a higher-than-expected third-quarter profit on Thursday, helped by prices and strong demand for construction materials.
The Adani Group-owned company’s profit after tax grew nearly fivefold to 5.27 billion rupees ($63.4 million) in the three months ended December 31.
“An opportunistic purchase of low-cost fuel will help further optimize fuel costs in the coming quarters,” the company said in a statement.
Cement makers also benefited from demand growth in the housing and infrastructure sectors, further aided by the government’s spending push.
Shares of ACC rose 10% and hit a 52-week high after results on Thursday.
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Published: 25 Jan 2024, 15:18 IST