Shares of ACC Ltd fell by over 3 per cent Wednesday as the company's March quarter earnings failed to impress investors.
The scrip declined 3.07 per cent to close at Rs 1,606.90 on the BSE. During the day, it dropped 5.24 per cent to Rs 1,570.85.
At the NSE, shares fell by 3.34 per cent to close at Rs 1,606.
"ACC's January-March 2019 results came in below our estimates due to lower than expected realisations and higher energy costs," Emkay Global Financial Services said in a report.
The cement maker Tuesday reported a 38.19 per cent increase in its consolidated profit at Rs 346.02 crore for the quarter ended March 2019, helped by increase in sales volume.
The company had posted a consolidated profit of Rs 250.39 crore in the January-March quarter a year ago, ACC Ltd said in a BSE filing.
ACC's total income during the period under review rose 10.99 per cent to Rs 4,075.71 crore as against Rs 3,671.95 crore in the corresponding period of the previous fiscal.
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