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ACC Q2 Results Live : ACC declared their Q2 results on 24 October 2024, revealing a topline growth of 4.03% year-over-year. However, the company’s profit took a significant hit, plummeting by 48.52% compared to the same quarter last year.
In contrast to the previous quarter, ACC’s revenue saw a decline of 10.5%, and profit decreased by 44.75%. 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 movement, declining by 10.94% quarter-over-quarter and by 2.61% year-over-year. This reduction may signal a tighter control over costs, which could be beneficial in the long run.
ACC’s operating income also faced a downturn, decreasing by 64.4% compared to the previous quarter and by 52.73% year-over-year. This decline adds to the overall concerns regarding the company’s operational efficiency.
Earnings per share (EPS) for Q2 stood at ₹11.82, reflecting a decrease of 42.64% from the same period last year. This significant drop in EPS may impact investor sentiment and future stock performance.
In terms of market performance, ACC has experienced a return of 0.23% over the last week, but the stock has declined by 11.99% over the past six months. On a year-to-date basis, the company has managed a modest return of 2.67%.
Currently, ACC holds a market capitalization of ₹42,631.47 Crores, with a 52-week high of ₹2,844 and a low of ₹1,803. These figures illustrate the volatility of the stock in recent times.
Out of 33 analysts covering ACC, opinions are mixed: 6 analysts have given a ‘Sell’ rating, 7 have recommended ‘Hold’, 11 analysts are in favor of ‘Buy’, and 9 have issued a ‘Strong Buy’ rating. The consensus recommendation as of 25 October 2024 remains a ‘Buy’, indicating some optimism among analysts despite the recent financial struggles.
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