ACC Q4 net surges 126% to Rs 2 bn; recommends dividend of Rs 15 per share

Cement maker ACC Ltd said on Thursday its fourth-quarter profit more than doubled from a year earlier and beat analysts' expectations.

Profit rose 126 percent to Rs 2.06 billion ($32.06 million) in the quarter ended Dec. 31, from Rs 908.7 million a year earlier, the company said in a statement.

Net sales were up 30 percent at Rs 34.17 billion. Analysts on average had expected the company to post a profit of Rs 1.85 billion, according to Thomson Reuters data.

ACC shares were trading 3 percent higher after the results. The company's board has recommended dividend of 15 rupees per share.

($1 = 64.2550 Indian rupees)