UltraTech increases net profits to INR92.6m in 3QFY19

UltraTech reported net sales of INR92,580m (US$1.299bn) in 3QFY19 up 19 per cent from INR77,790m in 3QFY19. Profits before interest, depreciation and tax was INR15,480m, up from INR14,940m in the corresponding period a year earlier.

The company saw domestic sales volume rise by 15 per cent over 3QFY18, but higher fuel and energy costs, along with rupee depreciation resulted in costs increasing by 11 per cent on 3QFY18.

UltraTech has fully integrated the 21.2Mta cement capacity acquired in 2017 and capacity utilisation is stable at about 75 per cent.

The major highlight of 3QFY19 was the completion of the Binani Cement Ltd acquisition on 20 November 2018, and its renaming as UltraTech Nathswara Cement Ltd. UltraTech now has access to high-quality limestone reserves in the north and west of India after this acquisition.