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July 24 (Reuters) - Indian cement maker ACC (ACC.NS), opens new tab reported a first-quarter profit rise on Thursday, helped by higher prices of the construction material.
Standalone profit after tax - which excludes the company's non-core realty and infrastructure subsidiaries - rose to 3.85 billion rupees ($44.6 million) in the three months ended June, up nearly 5%, the Adani Group firm said.
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April-June is typically a seasonally weak period for cement makers, as summer heatwaves followed by monsoon rains hinder the pace of construction and dent demand of the raw material.
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However, ACC's sales volumes have been insulated from seasonal volatility, thanks to the string of cement deals its billionaire-owner Gautam Adani has inked to challenge rival UltraTech's (ULTC.NS), opens new tab polestar position in the sector, analysts have said.
ACC'S revenues rose nearly 18% on-year to 60.15 billion rupees in the reported quarter, while costs grew over 16% to 55.61 billion rupees.
($1 = 86.3540 Indian rupees)
Reporting by Hritam Mukherjee in Bengaluru; Editing by Mrigank Dhaniwala
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