UltraTech Q2 net up 46%

UltraTech Q2 net up 46%
Published: 22 October 2007

UltraTech Cement (UCL), the country’s second largest cement maker and part of the Aditya Birla Group, has posted a 45.84% rise in its net profit at Rs 185.86 crore for the quarter ended September 30, 2007 as against Rs 127.44 crore in the corresponding quarter last year.

Net sales during the quarter grew 16.81% to Rs 1,173.41 crore compared with Rs 1,004.54 crore.

Higher sales, improved realisations and buoyant cement demand helped the company come up with the good set of  numbers.

The quarter saw the operating profit of the company rise to Rs 355.36 crore from Rs 266.39 crore, up 33.40%. Earnings per share for the quarter stood at Rs 14.93 as against Rs 10.24.

At 85% capacity utilisation, the company produced 3.34Mt of cement during the quarter from 3Mt in the corresponding quarter last year. It sold 3.15Mt, up 12%, compared with 2.8Mt last year.

UltraTech, with its current capacity of 17Mta, has earmarked a capital expenditure of Rs 3,300 crore to take its production capacity to over 21Mta in the next three years. It is also in a process of setting up ready mix concrete (RMC) plants across the country. The firm thinks RMC has huge growth potential in the country.