ACC, Ambuja shares fall as July-Sept earnings miss estimates

Reuters
A labourer takes a nap on the stacked cement sacks of ACC company on the outskirts of Allahabad
A labourer takes a nap on the stacked cement sacks of ACC company on the outskirts of Allahabad June 22, 2012. REUTERS/Jitendra Prakash/Files

MUMBAI (Reuters) - Shares in Ambuja Cements Ltd and ACC Ltd fall after the cement makers reported lower-than-expected July-September earnings.

ACC and Ambuja are controlled by Switzerland's Holcim Ltd , the world's No.2 cement maker, which in July said it plans to restructure its Indian operations to cut costs.

Shares in Ambuja Cements fell as much as 2.3 percent after it posted a 45 percent fall in net profit to 1.66 billion rupees, missing market estimates of 2.4 billion rupees, according to Thomson Reuters I/B/E/S.

ACC Ltd also fell as much as 1.8 percent after net profit for India's second-largest cement maker halved to 1.21 billion rupees in the July-September quarter, missing estimates of 1.89 billion rupees, according to Thomson Reuters I/B/E/S .

($1 = 61.6000 rupees)

(Reporting by Abhishek Vishnoi; Editing by Supriya Kurane)