UltraTech Cement announces results
Published by Rebecca Bowden,
UltraTech Cement has announced its unaudited results for the quarter ended 30 September 2016.
Net sales stood at Rs.5709 crore as compared to Rs.5857 crore in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax at Rs.1378 crore was higher by 16 per cent as compared to Rs.1186 crore in the corresponding period of the previous year. Profit after Tax rose 25% from Rs.491 crore to Rs.614 crore in the second quarter.
On a standalone basis net sales stood at Rs.5398 crore as compared to Rs.5527 crore in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax at Rs.1327 crore grew 19% as compared to Rs.1116 crore in the second quarter and Profit after Tax jumped 31% from Rs.457 crore in the 2Q16 to Rs.601 crore in 2Q17.
The government’s thrust on developing infrastructure spending, good monsoons, development of smart cities leading to growth in housing demand in Tier-I and Tier-II cities, slower pace of new capacity addition augur well for the cement industry. UltraTech is well positioned across the country to meet the expected rise in demand and participate in the next phase of growth in the country.
Read the article online at: https://www.worldcement.com/indian-subcontinent/18102016/ultratech-cement-announces-results/
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