UltraTech Cement, an Aditya Birla group company, has reported a 26 per cent drop in net profit at Rs 229 crore (Rs 309 crore) in the fourth quarter ended March 31. This is largely due to lower sales realisation in the southern region where it has a major presence.
Revenues increased marginally by 3 per cent to Rs 1,909 crore (Rs 1,860 crore). The company produced five million tonnes (4.6 mt) in the quarter under review. It has announced a dividend of Rs 6 a share resulting in an outgo of Rs 870 crore.
UltraTech’s realisation in the fourth quarter was down to Rs 191 a 50 kg bag, from Rs 202 in the same period last year, due to excess capacity build-up in Tamil Nadu, Andhra Pradesh, Karnataka and Kerala coupled with softening demand.