MIXED TREND IN CEMENT PRODUCTION
Article Abstract:
Cement companies witnessed a 3.4 percent hike in demand to 43.83 million tonnes while capacity grew 11 percent to 52.18 million tonnes in April to October 1998. Although there have been reports of companies in Gujarat recording growths of even 30 percent in production, companies elsewhere have had to cut production due to lack of demand. ACC reported a fall of 2.24 percent to 5.05 million tonnes (5.16 million tonnes in April to October 1997) as also Indian Rayon who had a 14 percent decline to 1.47 million tonnes (1.72 million tonnes). A sluggish demand combined with a low shelf life for cement has seen some companies faring badly. (nr)
Comment:
Cement companies witnessed a 3.4 percent hike in demand to 43.83 million tonnes while capacity grew 11 percent to 52.18 million tonnes in April to October 1998.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ACC NET PROFIT SHOOTS UP TO Rs34.02 CRORE
Article Abstract:
The Associated Cement Companies has posted a net profit of Rs34.02 crore in the quarter ended December 31, 1998 against Rs8.10 crore in the quarter ended December 31, 1997. Its sales turnover increased by 4.5 percent to Rs633.58 crore against Rs606.04 crore while total expenditure increased to Rs579.22 crore from Rs572.12 crore. The increase in net profit is mainly due to other income of Rs46.33 crore in the third quarter of 1998- 99 compared to Rs19.37 crore in the third quarter of 1997-98. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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ACC NET PROFIT PLUNGES 82%
Article Abstract:
The net profit of Associated Cement Companies (ACC) has fallen by 82 percent to Rs13.44 crore for year ended March 1998 (Rs76.92 crore in 1996-97). Sales has declined by three percent to Rs2,400 crore from Rs2,469 crore. ACC's income from other sources was higher at Rs66.13 crore (Rs38.81 crore). The poor performance is due to excess supply and poor demand. The board has announced a dividend of 15 percent. (uh)
Comment:
Posts net profit of Rs13.44 crore 1998 vs Rs76.92 crore in 1996-97, down 82%
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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