ACC has put up a decent operational performance for the quarter ending March 2023. Except realisation (which slipped >4% QoQ), ACC fared well on all other fronts. Notably – a) volumes surged >10% YoY despite plant shutdown in Himachal Pradesh for nearly half the quarter; b) freight cost/t eased ~7% QoQ while overall variable cost/t dipped ~6% QoQ; c) fixed cost (staff + other expenses), too, was down 4% YoY.