Holcim's Indian units fall on non-operational boost in earnings

Tags: Companies
Shares in ACC Ltd and Ambuja Cements India Ltd fall even as their earnings beat forecasts as dealers say other income and tax credit contributed significantly to their net profits.

ACC falls 2.8 percent even after reporting on Thursday March-quarter net profit of 3.99 billion rupees ($65.35 million), above consensus forecasts for 3.37 billion rupees.

But dealers worry about the impact from other income, which jumped 154 percent to 1.08 billion rupees from a year earlier.

Ambuja Cement is down 2.7 percent after the company reported on Friday a forecast-beating 6.6 percent rise in quarterly profit from a year earlier.

Ambuja's net profit was helped after other income rose by 53.2 percent to 1.32 billion rupees from a year earlier, according to company's filing.

Ambuja's shares had initially risen 1 percent to a record high of 221 rupees.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Lawmakers must not dilute penalties for insurers on mis-selling

    The much delayed insurance laws (amendment) bill is back in the news and the positive statements of finance minister Arun Jaitley suggest that the gov

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

New model for effective education

After interacting with students and teaching community on a ...

Zehra Naqvi

To hell and back

Here is a book that makes you wish there were ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture