Ultratech Profit Up Three Per Cent in Sept Quarter
Chirag Gothi / 20 Oct 2015
Ultratech Cement, India's biggest cement company and India’s largest exporter of cement clinker has reported three per cent increase in its consolidated September quarter net profit at Rs 427 crore as against Rs 414 crore in corresponding quarter of the previous year. Sales were up four per cent at Rs 5,951 crore as against Rs 5720 crore in September 2014.
Ultratech Cement, India's biggest cement company and India’s largest exporter of cement clinker has reported three per cent increase in its consolidated September quarter net profit at Rs 427 crore as against Rs 414 crore in corresponding quarter of the previous year. Sales were up four per cent at Rs 5,951 crore as against Rs 5720 crore in September 2014.
On a standalone basis, UltraTech profit was down 3.94 per cent at Rs 394 crore crore for the quarter under review from Rs 5,500.69 crore for the corresponding quarter of the previous year. The company’s total income has increased by 4.09 per cent to Rs 5725.87 crore for the quarter under review from Rs 5,500.69 crore for the corresponding quarter of the previous year.
During the quarter, Ultratech has commissioned 3.2 million tonne per annum (MTPA) cement grinding capacity and 2 MTPA cement packaging terminal in Maharastra along with 5 MW waste heat recovery system. As a result, the cement capacity increased to 64.7 MTPA.
The combined cement and clinker sales were up marginally at 11.51 MTPA (11.17 MTPA), while that of white cement and wall putty’s increased to 3.22 lakh tonnes (2.99 lakh tonnes).
The company reported an EBITDA of Rs 989.1 crore in Q2FY16 as against Rs 829.5 crore during 2QFY2015, up 19.2 per cent Y-o-Y. While operating cost was lower as compared to previous year on account of lower energy cost, the benefit was partially offset due to District Mineral Foundation levy in terms of provisions of Mines and Minerals Act. Power & fuel cost declined 7.5 per cent Y-o-Y to Rs 1,059 crore while freight & forwarding expenses climbed 4.4 per cent to Rs 1,347.3 crore and depreciation cost increased 10.2 per cent to Rs 333.3 crore (on commissioning of new capacity) during the quarter.
UltraTech Cement in its outlook said that with the government's focus on infrastructure development, housing sector, smart cities, roads etc., the company is well positioned across the country to meet the expected rise in the cement demand and participate in the next phase of growth in the country.
The Cement will also pickup like credit growth. From the fourth quarter onwards we may expect more demand due to lower interest rates and more government spending.
Yesterday, the stock price declined 1.76 per cent to Rs 2,903.10. Currently, the stock was marginally up 0.19% to Rs 2,908.50 on the BSE.
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