UltraTech Q3FY17 reports post-tax profit up 5%

UltraTech Q3FY17 reports post-tax profit up 5%
23 January 2017

UltraTech Cement reported a 4.7 per cent rise in consolidated net profit at INR59.39bn (US$871.6m) for the quarter ended 31 December 2016 due to lower expenses. In 3Q15 company, owned by Aditya Birla Group, recorded net profits of INR56.67bn. Consolidated total income from operations fell to 67.61bn from INR68.65bn in the same period.

Profit before interest, depreciation and tax was INR12.80bn as compared to INR12.74bn in the same period of the previous year.

Profit After Tax (PAT) was up five per cent, from INR5.67 in Q3FY16 to INR5.94 in Q3FY17.
In its outlook, the company said that "Continuing government spending on infrastructure, development of smart cities, interest rate cuts supported by interest subsidy schemes for housing will be the key demand drivers."

UltraTech also said its board of directors approved the construction of a 3.5Mta integrated cement plant in Dhar, Madhya Pradesh.

Published under Cement News