Higher expenses and lower sales have squeezed cement maker ACC Ltd's consolidated net profit by 36.85 per cent during the April-June quarter to Rs 261.76 crore from Rs 414.52 crore during the same period a year ago.
The ACC Board has approved an interim dividend of Rs 11 per share, it said in an exchange filing today.
ACC reported a 3.6 per cent dip in revenue during the quarter to Rs 2,851.07 crore.
Expenses, however, went up to Rs 2,502.09 crore compared to Rs 2,412.60 crore a year ago mainly because of the costlier raw material and higher employee benefit expenses.
It consumed raw material worth Rs 411.15 crore during the quarter from Rs 408.48 crore in the same period a year earlier. Employee benefits expenses also went up to Rs 172.54 crore from Rs 144.31 crore.