Cement major ACC today reported a consolidated net profit of Rs 470.98 crore during the quarter ended June 30.
The company has reported a consolidated net profit of Rs 255.07 crore in the same period last year.
However, the latest figures are not comparable with the results a year earlier on account of the company?s investment in two units and divestment in one of its group firms, ACC said in a statement to the Bombay Stock Exchange (BSE).
On the business outlook, the cement manufacturer said demand, led by housing, retail and infrastructure sectors, is expected to remain in the future.
However, ?below normal monsoon rain may put pressure on the prices of certain commodities, potentially accelerating inflation,? ACC said.
The consolidated total income stood at Rs 2,245.75 crore in the latest quarter of this fiscal (2009-10)while the same was at Rs 1,952.48 crore in the corresponding period last year.
On standalone basis, it posted a net profit of Rs 485.61 crore during the April-June quarter while the same was at Rs 271.42 crore same period previous fiscal.
For the six month period ended June 30, ACC registered a consolidated net profit of Rs 870.32 crore, whereas the same was at Rs 579.38 per cent in the same period a year ago.
Shares of ACC surged nearly 7 per cent and were trading at Rs 862.50 in the late afternoon trade on the BSE.