01-01-1970 12:00 AM | Source: Reuters
India`s ACC reports surprise quarterly loss on higher expenses
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Indian cement maker ACC Ltd on Monday reported a surprise loss for the September-quarter, hurt by higher fuel and power expenses.
The company's standalone loss was 910.9 million Indian rupees ($11.05 million) for the three months ended Sept. 30, compared with a profit of 4.49 billion rupees a year ago.
Analysts on average had expected the company to report a profit of 1.33 billion rupees for the latest quarter, according to IBES data from Refinitiv. ($1 = 82.4025 Indian rupees)
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