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UltraTech Cement’s net profit on the rise

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World Cement,

Bloomberg are reporting that UltraTech Cement’s net profit increased 28.3% to Rs 775 crore in the first quarter of the financial year 2016-17, compared to the same period last year.

Total revenue increased 3.9% to Rs 6182 crore from the same quarter last year. Analysts had projected Rs 6405 crore revenue.

The cement company’s margins on its earnings before interest, taxes, depreciation and amortisation improved to 23% from 19% in the same quarter last year.

Sales volume grew 6% to 12.87 million t, while EBITDA per t came in at Rs 1106 in the quarter ended June.

The company added that its global capacity will rise to 91.1 million t once it completes the acquisition of Jaiprakash Associates Ltd.’s cement units.The company expects its cement demand to grow 7% this year.

Edited from source by Joseph Green. Source: Bloomberg

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