UltraTech Cement FY17 sales edge ahead

UltraTech Cement, an Aditya Birla group company, yesterday reported consolidated sales for FY17 of INR250.92bn (US$3.89bn) against INR248.8bn in the previous year.

Profit before interest, depreciation and tax of INR58.61bn was nine per cent higher and profit after tax up 10 per cent YoY to INR27.15bn.

Domestic grey cement sales was 47.62Mt, virtually flat on the 47.13Mt recorded a year earlier. For the final quarter of FY17, volumes reached 13.35Mt compared to 13.32Mt in the same quarter of the previous year.

In terms of capex developments, UltraTech said that work on its 3.5Mta cement plant in Dhar, Madhya Pradesh, is on track. Commercial production is expected to commence from 4QFY19. During FY17, the company commissioned grinding units at Nagpur, Maharashtra, and Patliputra, Bihar.