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ACC turns around, PAT at Rs 47.48 cr

Our Bureau

MUMBAI, April 30

CEMENT major ACC Ltd has registered a profit after tax of Rs 47.48 crore in 2000-2001, as against a corresponding loss of Rs 58.85 crore for the previous fiscal.

The company's board has recommended a dividend of 20 per cent (Rs 2 per share), aggregating to Rs 37.62 crore, including tax on dividend, an official statement said on Monday.

ACC, which made a beginning in divesting from non-core businesses by selling its stake in Floatglass India Ltd, has said, ``Efforts are on to divest its stake from other non-cement business activities also.''

Total income for the period was up to Rs 3,031.76 crore (Rs 2,760.42 crore). This included net sales/income from operations which rose to Rs 2,959.03 crore (Rs 2,701.81 crore) and other income at Rs 61.99 crore (Rs 53.1 crore).

Dividend and interest brought in Rs 10.74 crore (Rs 5.51 crore).

Total expenditure amounted to Rs 2,626.17 crore (Rs 2532.99 crore). Interest accounted for Rs 170.18 crore (Rs 161.77 crore), while depreciation touched Rs 141.28 crore (Rs 124.51 crore). Provision for tax was Rs 3.65 crore.

ACC's reserves excluding revaluation reserves stood at Rs 980.86 crore (Rs 961.96 crore).

Cement sales for the just-ended fiscal was 102.35 lakh tonnes (99.46 lakh tonnes) and that of traded cement, 8.21 lakh tonnes (7.77 lakh tonnes), yielding a total sale of 110.56 lakh tonnes (107.23 lakh tonnes).