UltraTech Cement has announced its unaudited financial results for the quarter ended 30 June 2017. The results include those of the cement plants of Jaiprakash Associates Limited (JAL) and Jaypee Cement Corporation Limited (JCCL) acquired in terms of a Scheme of Arrangement which is effective from 29 June 2017.
Net sales stood at Rs.6938 crore as compared to Rs.6535 crore in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax at Rs.1798 crore was higher by 11% as compared to Rs.1626 crore in the corresponding period of the previous year. Profit after Tax rose 15% from Rs.780 crore to Rs.897 crore in Q1FY18.
This quarter also witnessed increasing cost trends, primarily attributable to energy and logistics cost on account of increase in fuel prices. On a standalone basis, net sales stood at Rs.6533 crore as compared to Rs.6179 crore in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax was Rs.1725 crore (Rs.1573 crore) and Profit after Tax was Rs.891 crore (Rs.775 crore).
The company completed the acquisition of the cement plants of Jaiprakash Associates Limited and Jaypee Cement Corporation Limited located in the States of Madhya Pradesh, Uttar Pradesh, Himachal Pradesh, Uttarakhand and Andhra Pradesh with a capacity of 21.2 million t. With this acquisition the cement capacity of the company stands at 93 million tpy.
Government spending on infrastructure, rural and affordable housing will be the key demand drivers. UltraTech is well positioned across the country to cater to the demand.
Read the article online at: https://www.worldcement.com/indian-subcontinent/19072017/ultratech-cement-reports-increased-profits/