UltraTech reports 20% increase in net sales

India’s UltraTech Cement has reported an 11 per cent YoY decline in its consolidated net profit for the 2QFY18-19 ended 30 September, falling to INR3.76bn (US$51.29m) from INR4.24bn. However, net sales during the quarter rose 20 per cent to INR81.11bn from INR67.52bn on the back of strong cement volume growth, which increased 21 per cent to 15.1Mt.

"Domestic sales volumes jumped 21 per cent over 2QFY17-18. However, rising energy and logistics cost coupled with rupee depreciation resulted in cost increasing by 14 per cent as compared to 2QFY17-18, bringing down profits as compared to the previous year," said UltraTech Cement in a statement.

Going forward, the company is expecting cement price hikes from November and a dip in international petcoke prices to benefit power and fuel costs.