India’s UltraTech Cement, part of the Aditya Birla Group, has released its unaudited financial results for the last quarter, ending on 31 December 2012. Profit before interest, depreciation and tax reached Rs.1145 crores, up from the Rs.1119 crores taken in the same period in 2011. However, profit after tax fell from Rs.617 crores to Rs.601 crores. Net sales for the quarter came in at Rs.4857 crores, higher than last year’s Rs.4565 crores. Domestic sales volumes of grey cement only increased slightly, up from 9.61 million t to 9.62 million t. Sales of white cement and wall care putty experienced more positive growth, rising from 2.46 million t in the corresponding period in 2011 to 2.62 million t. The company expects cement demand to increase by 8% in the long-term, driven by greater investment in housing and infrastructure projects. However, UltraTech Cement also notes that the issue of surplus is likely to remain over the next three years.
In terms of cost, the cement manufacturer continued to feel the impact of higher diesel prices and railway freight, although energy costs remained constant, with the price of imported coal sticking at US$100/t. The company expects input costs to rise in line with general inflation.
Adapted from press release by Louise Fordham.
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