Low prices and a prolonged monsoon season affect UltraTech Cement’s quarterly results
India’s UltraTech Cement Ltd, part of the Aditya Birla Group, has announced its unaudited financial results for the quarter ending 30 September 2013. Net sales fell slightly y/y, falling from Rs.4699 crores to Rs.4502 crores. Profit after tax came in at Rs.264 crores, compared to the Rs.550 crores recorded in the corresponding quarter in 2012. Profit before interest, depreciation and tax also declined y/y, dropping from Rs.1076 crores to Rs.717 crores. The results have been attributed to lower prices and diminished demand, which felt the impact of a prolonged monsoon season.
Domestic cement and clinker sales volumes came in at 9.1 million t during the period, and volumes of white cement and wall care putty increased to 2.75 million t.
High diesel prices contributed to rising logistics and raw material costs. UltraTech Cement somewhat offset growing fuel and power costs by optimising its fuel mix.
During the quarter, the Indian cement manufacturer commissioned a 25 MW TPP at its Rajashree cement plant in Karnataka. In addition, it began operations of its 1.6 million tpa cement mill in Jharsuguda, Odisha, this month.
Adapted from press release by Louise Fordham
Read the article online at: https://www.worldcement.com/asia-pacific-rim/21102013/ultratech_cement_quarterly_results_india_2013_309/
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