UltraTech sees 47% rise in net profit

UltraTech sees 47% rise in net profit
Published: 20 October 2014

UltraTech Cement reported a 47 per cent YoY increase in its consolidated net profit to INR4.16bn (US$67.9m) for July-September, driven by a strong volume growth of 11 per cent and additional volumes from Jaypee’s cement units acquired last year. In July-September 2013, the company’s net profits reached INR2.83bn. Revenues for the period rose from INR48.49bn in 2013 to INR57.72bn in 2014.

"During the quarter, domestic cement sales volume increased by 11 per cent on the back of higher demand and additional volume from the acquired units in Gujarat. Costs were impacted mainly on account of increase in prices of petcoke, input material and royalty on limestone," UltraTech Cement said.

The company's on-going capex is on track. UltraTech commissioned a 1.4Mta cement mill at Rajashree Cement, Karnataka, and a 25 MW thermal power plant at Tadipatri, Andhra Pradesh. As a result, the company's total cement capacity in India stands at 60.2Mta  and the total power capacity (including WHRA) at 733MW, which represents around 80 per cent of the company's power needs.

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