SME Times News Bureau | 19 Jan, 2018
UltraTech Cement
Ltd, an Aditya Birla Group Company, on Thursday reported a 23.36 per cent
decline in its consolidated net profit to Rs 456 crore in the quarter ended
December 31, as compared o Rs 595 crore in the year-ago period.
Consolidated net sales during the quarter under review stood at Rs 7,897 crore,
up by 33.23 per cent from Rs 5,927 crore in the corresponding quarter of
2016-17.
"The quarter witnessed increase in variable costs attributable to rise in
pet coke and coal prices. The ban on pet coke usage in some states also
adversely impacted performance," a company statement said.
Regardless, the cement maker registered a 18 per cent PBIDT (profit before
interest, depreciation and tax) growth during the quarter.
The company said after launching the 'UltraTech' brand in all the markets being
served from the acquired plants, the operations are in line with its ramp-up
strategy. Improved capacity utilisation currently touching 60 per cent from a
low of 18 per cent at the time of acquisition was encouraging.
The expected higher budget allocation for infrastructure and rural development
will be the key demand drivers, it added.