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UltraTech Cement reported a drop in sales and net profit in 3Q14

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World Cement,


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/


 

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