UltraTech Cement reports double digit increase in cement sales

UltraTech Cement, part of the Aditya Birla Group, has reported a 1Q net profit of Rs.625.57 crore, down from Rs.672.60 crore in the 1Q of the 2013/14 financial year. The two quarters are not directly comparable, as this year’s 1Q figures include the Gujarat units of Jaypee Cement from 12 June.

On a consolidated basis, net sales and other operating income reached Rs.6032.30 crore, up from Rs.5295.87 crore last year. Grey clinker and cement sales hit 11.7 million t, a 16% increase y/y, while white cement and wall care putty sales grew 3% to 2.57 lakh tonnes.

In a statement, the company said that its total power capacity – including waste heat recovery systems – stands at 709 MW, which meets about 80% of its power needs.

UltraTech Cement expects cement demand to grow 7 – 8% thanks to renewed government spending on housing and infrastructure. In the second half of this fiscal year, the company said, demand growth could be in the double digits.

Edited from various sources by Katherine Guenioui

Read the article online at: https://www.worldcement.com/asia-pacific-rim/21072014/ultratech-cement-reports-double-digit-increase-in-cement-sales-133/