ACC sees cost pressures as profit shrinks
Cement producer ACC signalled continued pressure on its margins as a result of rising input costs heading into the new year, after it reported a 49% plunge in quarterly profit as higher costs ate into margins.
ACC’s October-December net profit fell to R248 crore from R459 crore a year earlier when it recored a R129 crore tax gain. Total income from operations rose nearly 3% to R2,768 crore while total costs climbed 5% to R2,519 crore. Costs related to changes in inventories nearly tripled to R100 crore from R35 crore in the year-ago period. ACC share closed up 1.15% at R1,345.40 on the BSE.
JK Tyre posts Q3 net profit at Rs 21 crore
Improved product mix and lower raw material prices have led JK Tyre and Industries to post net profit of R21.14 crore in the quarter ended December, compared with a loss of R21.31 crore in the corresponding period last fiscal.
However, total income fell 7.35% to R1,281.49 crore on the back of sluggish auto sales. In the same period last fiscal, JK Tyre had recorded a total income of R1,383.19 crore. “We added radial tyre capacities in Chennai that helped in Q3, plus raw material prices have been stable. Better operating efficiency also helped us,” Arun K Bajoria, president and director, said.
P&G Q2 net increases 5% to Rs 53.99 cr
Procter & Gamble Hygiene and Health Care (PGHHC), the makers of Vicks (cough formula), has posted a 5.46 % increase in net profit at R53.99 crore for its second quarter ended December, against R51.19 crore in the same quarter last fiscal.On the back of category expansion and consumer initiatives, the company’s net sales during the quarter under review stood at R470.57 crore, compared with R354.32 crore in the year-ago period.
Shantanu Khosla, MD of PGHHC, said the company has sustained and improved the past quarter’s strong growth momentum.
Jyothy Lab net dips 10.38% to Rs 26.05 crore
Jyothy Laboratories (JLL), makers of Margo soaps, on Thursday reported a 10.38% dip in net profit at R26.05 crore for the quarter ended December, against R29.07 crore during the same period