Indian cement manufacturer UltraTech Cement has released its standalone unaudited results for 3Q14 and the nine months ending 31 December 2013.
Results for 3Q14
- The company reported a 38.44% y/y decrease in net profit in 3Q14 to Rs.369.76 crore compared to Rs.600.81 crore in 3Q13.
- Net sales fell by 1.46% y/y to Rs.4786.37 crore in 3Q14.
- Total income from operations fell from Rs.4882.07 crore in 3Q13 to Rs.4817.85 crore in 3Q14.
Results for the first nine months of FY14
- The company posted a fall in net profit from Rs.1929.23 crore for the nine months ending 31 December 2012 to Rs.1306.47 crore for the nine months ending 31 December 2013.
- Net sales declined from Rs.14 628.73 crore in the first nine months of FY13 to Rs.14 246.01 crore in the first nine months of FY14.
- Total income from operations decreased to Rs.14319.92 crore compared to Rs.14701.57 in the first nine months of FY13.
The lower sales and income are attributed to a decrease in the retail price of building materials as a result of poor demand in the country. The company has anticipated long-term demand growth to be around 8%, with investment in housing and infrastructure as the most important demand drivers.
Edited from various sources by Rosalie Starling
Read the article online at: https://www.worldcement.com/asia-pacific-rim/20012014/ultratech_reported_a_drop_in_sales_and_net_profit_in_3q14_615/