Ultratech Cement's profit dips by 30% in Q1 FY19

Ultratech Cement has registered a dip of 30 per cent in its net profit in the first quarter of the financial year 2018. Its profit stood at Rs 631.21 crore in Apr-Jun 2018, as against Rs 897.91 crore it recorded in the corresponding quarter last year. The company's revenue from operations was Rs 9,021 crore during the said period. Its board of directors have approved a scheme of arrangement under which Century Textiles and Industries Century will demerge its cement business into Ultratech. Century's cement business consists of three units with a total capacity of 12.6 MTPA and a grinding unit of 2.0 MTPA. The company has also commissioned the second cement mill of 1.75 mtpa capacity at Dhar, Madhya Pradesh in June 2018. It is operating at a capacity utilisation of 60%. Upon completing the acquisition of Century's cement business and with the on-going capacity expansion, the company's cement manufacturing capacity will stand augmented to 111.1 mtpa, including its overseas capacity.