ACC Q2 results live: Profit falls 48.52% YoY

ACC Q2 Results Live: ACC announced its Q2 results on October 24, 2024, showing year-over-year revenue growth of 4.03%. However, the company’s profit took a significant hit, falling 48.52% compared to the same quarter last year.

In contrast to the previous quarter, ACC reported a 10.5% decline in sales and a 44.75% decline in profits. These results have raised concerns among investors about the company’s performance in a challenging market environment.

The company’s selling, general and administrative expenses showed some positive development, decreasing by 10.94% quarter-on-quarter and 2.61% year-on-year. This reduction could signal tighter cost control, which could be beneficial in the long run.

ACC’s operating income also faced a decline, falling 64.4% quarter-on-quarter and 52.73% year-on-year. This decline reinforces overall concerns about the company’s operational efficiency.

Earnings per share (EPS) for the second quarter were ₹11.82, a decrease of 42.64% compared to the same period last year. This significant decline in earnings per share could impact investor sentiment and future stock performance.

In terms of market performance, ACC returned 0.23% over the last week, but over the past six months the stock has seen a decline of 11.99%. Year to date, the company has returned a modest 2.67%.

Currently ACC has a market capitalization of ₹42,631.47 Crores, with a 52-week high of ₹2,844 and a low of ₹1,803. These numbers highlight the stock’s volatility recently.

Of the 33 analysts covering ACC, opinions are mixed: 6 analysts have issued a Sell rating, 7 have recommended Hold, 11 analysts are Buy, and 9 have a Strong Buy rating. Rating given. The consensus recommendation as of October 25, 2024 remains “Buy,” indicating some optimism from analysts despite recent financial difficulties.