UltraTech Q1 net profit triples, India

UltraTech Q1 net profit triples, India
27 July 2006

UltraTech Cement Ltd, an Aditya Birla group company has announced that net profit more than tripled for the first quarter ended June 30 2006 on higher domestic realisation and volumes.  
Net profit for the quarter amounted to Rs 210 crore as against Rs 60 crore for the corresponding year-ago quarter. Net sales rose 49 per cent to Rs 1,180 crore from Rs 793 crore.  
The company’s domestic sales volume of cement grew by 10 per cent, while exports were higher by 16 per cent. Overall sales volumes increased by 12 per cent, amounting to 44.55 lakh tonnes (39.95 lakh tonnes).  
The figures for the quarter are not strictly comparable with the year-ago figures since Narmada Cement Company Ltd was amalgamated with the company from October 2005, said a statement.  
"Capacity utilisation rose across all units of the company," it said. The effective capacity utilisation for the quarter was 104 per cent, up from 95 per cent a year ago.  
Total expenditure increased by 25 per cent to Rs 805 crore (Rs 644 crore). Of this, variable costs rose eight per cent, while power costs went up by 17 per cent. 
Published under Cement News