Coal news and updates

Cement maker ACC reported a 4%decline in its consolidated net profit at Rs 226.95 crore for the March quarter. The company, which follows January-December as its fiscal year, said that consolidated income fell by 3%  to Rs 2,990.60 crore during January-March quarter of 2015-16 fiscal. The company’s cement sales were higher at 6.36 million tonnes (MT) in the March quarter compared with 5.82 MT in the year-ago period.

“Lower input costs, especially from optimisation of the fuel mix through increased use of pet coke, and decline in solid fuel prices, together with various other initiatives, helped achieve a visible reduction in production and distribution costs,” the company said.

Sales volume for the ready mix concrete business increased 13%, as the company catered to infrastructure, industrial and high-rise building projects.

Source: Freepress Journal