India: ACC's net income has fallen slightly to US$1.75bn in 2013. However its net profit rose by 3% to US$174m. By business segment, cement sales fell slightly to US$1.71bn in 2013. The Indian cement producer made the announcement in a statement of consolidated audited financial results. In its statement ACC made no provision for a US$180m fine imposed on it by the Competition Commission of India for alleged cartel-like behaviour as it believes it can successfully appeal the penalty.
ACC net income drops to US$1.75bn in 2013
Written by Global Cement staff
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