UltraTech Cement records 15% YoY growth in profit
UltraTech Cement reported 15 percent year-on-year rise in consolidated net profit at Rs. 897 crore for the June quarter as against Rs. 780 crore in the corresponding quarter of last year. The numbers were impacted by increasing cost trends, primarily attributable to energy and logistics cost on account of increase in fuel price, the company said in a BSE filing. Consolidated sales for the quarter rose 6.17 per cent YoY to Rs 6,938 crore, compared with Rs 6,535 crore in the same quarter last year. Profit before interest depreciation and ax rose 11 per cent to Rs 1,798 crore for the quarter against Rs 1,626 crore in the year-ago quarter. The company said that with the acquisition of cement plants of JP Associates and Jaypee Cement Corporation, the company’s total capacity has increased to 93 mtpa. The cement maker believes that the government spending on infrastructure, rural and affordable housing will be key demand drivers, going ahead.
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