ACC falls on weak Q4 earnings

ACC, one of the leading cement makers,dropped on Friday after reporting a fall of 45.76% in consolidated net profit to Rs 2.51 billion for the quarter ended Dec. 31, 2012 as compared to Rs 4.63 billion in the same period last year.

The sharp fall attributed to high base for last year as the profit included one-time gain of Rs 1.29 billion for tax write back.

Consolidated net sales of the company rose 2.52% to Rs 27.68 billion for the quarter ended Dec. 31, 2012 from Rs 27 billion in the year ago period. Shares ofthe companyare trading at Rs 1,322.90, down Rs 22.5, or 1.67% at the Bombay Stock Exchange (BSE) on Friday at 9:33 a.m.The scrip has touched an intra-day high of Rs 1,333.80 and low of Rs 1,317.55. The total volume of shares traded at the BSE is 4,784.In the earlier session, the shares rose 1.15%, or Rs 15.3, at Rs 1,345.40. Currently, the stock is trading down 12.68% from its 52-week high of Rs 1,514.95 and above 19.71% over the 52-week low of Rs 1,105.05.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 1,319.85 25.55 1.94 1 Month 1,397.70 (52.30) (3.74) 3 Months 1,452.70 (107.30) (7.39) 6 Months 1,341.70 3.70 0.28 1 Year 1,388.90 (43.50) (3.13) Note: Based on previous day closing price.