UltraTech announces Q4 financial results

UltraTech Cement Limited, an Aditya Birla Group company, announced its unaudited financial results for the quarter ended 31 December 2015.

Operations

During the quarter, domestic cement sales volume increased by 7% as compared to the same quarter last year. Grey cement sales was 11.26 million t while it was 3.38 million t for white cement and wall care putty. Though cement prices remained subdued, the performance during the quarter was encouraging, driven by operational efficiencies, judicious fuel mix and lower energy costs. This has resulted in lower operating costs. However, this benefit was partially offset by an increase in costs due to the District Mineral Foundation levy in terms of the provisions of the Mines and Minerals (Development) Amendment Act, 2015 and amendment to the Payment of Bonus Act.

Financial performance

Net sales at Rs.6108 crore rose by 5% vis-à-vis Rs.5832 crore in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax stood at Rs.1245 crore, up by 18% from Rs.1058 crore. Profit after Tax soared by 36% over last year to Rs.546 crore.

On a standalone basis net sales stood at Rs.5747 crore as compared to Rs.5488 crore in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax is Rs.1176 crore up from Rs.990 crore last year and Profit after Tax is Rs.509 crore vis-a-vis Rs.364 crore.

Outlook

The demand for cement is expected to pick up in the near term. The Government’s focus on infrastructure development, housing sector, smart cities, roads etc., bodes well for UltraTech. The company is confident of meeting the upsurge in demand and participating proactively in the next phase of growth in the country.

Adapted from press release by Joseph Green

Read the article online at: https://www.worldcement.com/indian-subcontinent/21012016/ultratech-announces-q4-financial-results-358/