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UltraTech Cement Limited has announced its unaudited
financial results for the quarter ending 30 June 2016.
The company has adopted Indian Accounting Standards
with effect 1 April 2016. As per IndAS, the figures for the
quarter ended 30 June 2015 have also been restated.
Net sales stood at Rs.6538 crore as compared to
Rs.6281 crore in the corresponding period of the
previous year. Profit before Interest, Depreciation and
Tax at Rs.1626 crore was higher by 25% as compared
to Rs.1302 crore in the corresponding period of
the previous year. Profit after Tax rose 29% from
Rs.604 crore to Rs.780 crore in 1Q17. Sales volume
registered a growth of 6% over that of the earlier
year.
The quarter witnessed improvement in operating
costs on the back of operational efficiencies and a
judicious power and fuel mix.
On a standalone basis, net sales stood at
Rs.6182 crore as compared to Rs.5948 crore in the
corresponding period of the previous year. Profit
before Interest, Depreciation and Tax was Rs.1573 crore
(Rs.1271 crore) and Profit after Tax was Rs.775 crore
(Rs.604 crore).
The Scheme of Arrangement between the
company, Jaiprakash Associates Limited, Jaypee
Cement Corporation Limited and their shareholders
and creditors for acquisition of the identified cement
plants located in the states of Madhya Pradesh, Uttar
Pradesh, Himachal Pradesh, Uttarakhand and Andhra
Pradesh, having a capacity of 21.20 million tpy has been
approved by the Board of Directors of the company,
subject to requisite regulatory approvals.
During the year cement demand is expected to
grow around 7%, given the Government’s focus on
infrastructure development, housing sector, smart cities,
roads etc. UltraTech is positioned across the country to
meet the rise in demand and participate in the next
phase of growth in the country.
UltraTech Cement
announces results
BMHR NEWS
