India Ultratech Cement 4Q Net Profit Jumps 75% To INR2.31bn

India Ultratech Cement 4Q Net Profit Jumps 75% To INR2.31bn
23 April 2007

India’s  Ultratech Cement Ltd said its fiscal fourth-quarter net profit jumped 75% to INR 2.31bn  from INR1.32bn a year earlier, helped by firm prices, growing sales and a higher share of blended cement.  
Net sales for the fiscal fourth quarter rose 38% to INR14.65 billion from INR10.60 billion.  
In the January-March period,  Ultratech Cement produced 3.81 million metric tons of clinker, up from 3.47 million metric tons a year earlier, and 4.17 million metric tons of cement, compared with 4.01 million metric tons a year earlier.  
Aggregate sales volume in the fiscal fourth quarter rose nearly 9% to 5.04 million metric tons from 4.63 million metric tons, the company said in a statement. 
Domestic sales volume grew 6% to 4.18 million metric tons from 3.93 million metric tons. 
For the fiscal year ended March 31, the company’s net profit jumped to INR7.82 billion from INR2.30 billion a year earlier.  
Net sales rose 49% in the fiscal year to INR49.11 billion from INR32.99 billion a year earlier.  
Ultratech said its capital expenditure plan was on track and its own power plants will be commissioned during calendar year 2008, which is expected to lower power costs for the company.  
Expecting strong growth for ready mix concrete, the company is setting up several plants to produce ready mix concrete, the statement said without elaborating. 
Ultratech Cement expects demand to grow 9% on the back of a strong economic growth.  
Published under Cement News