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UltraTech Cement Q2 net profit up 25% at Rs 613.64 crore

UltraTech Cement's net sales dropped to Rs 5,709 crore as against Rs 5,857 crore in the previous fiscal

on Monday reported a 25 per cent growth in consolidated net at Rs 613.64 crore for the quarter ended September 30, 2016 on the back of lower expenses.
 
The flagship firm of the had clocked a consolidated net of Rs 490.59 crore in the year-ago period, it said in a filing to BSE.
 
However, the consolidated total income from operations declined to Rs 6,508.62 crore over Rs 6,669.45 crore in the corresponding period last fiscal.
 
The total expenses declined to Rs 5,624.16 crore, over Rs 5,972.39 crore in the year-ago period.
 
In a statement, the company said that its net sales dropped to Rs 5,709 crore as against Rs 5,857 crore in the previous fiscal.
 
In a presentation the company said that the "domestic sales volume impacted due to good monsoon."
 
"before interest, depreciation and tax at Rs 1,378 crore was higher by 16 per cent as compared to Rs 1,186 crore in the corresponding period of previous year," it said.
 
"after tax rose 25 per cent from Rs 491 crore to Rs 614 crore in FY'17," it said.
 
On the outlook the company said that the government's thrust on developing infrastructure spending, good monsoons, development of smart cities leading to the growth in the housing demand in tier1 and tier 2 cities, slower pace of new capacity addition augur well for the cement industry.
 
UltraTech is well positioned across the country to meet the expected rise in demand and participate in the next phase of growth in the country, it said.
 
On acquisition of 21.2 MTPA cement capacity, the company said in the result presentation that approval has been received from competition Commission of India (CCI) and added that court convened meeting for seeking approval from shareholders and creditors is scheduled for October 20.
 
The "transaction expected to complete in next 5-6 months," it said.

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Business Standard
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Business Standard

UltraTech Cement Q2 net profit up 25% at Rs 613.64 crore

UltraTech Cement's net sales dropped to Rs 5,709 crore as against Rs 5,857 crore in the previous fiscal

Press Trust of India  |  New Delhi 

Workers walk in front of an UltraTech concrete mixture truck at the construction site of a commercial complex on the outskirts of Ahmedabad
Workers walk in front of an UltraTech concrete mixture truck at the construction site of a commercial complex on the outskirts of Ahmedabad

on Monday reported a 25 per cent growth in consolidated net at Rs 613.64 crore for the quarter ended September 30, 2016 on the back of lower expenses.
 
The flagship firm of the had clocked a consolidated net of Rs 490.59 crore in the year-ago period, it said in a filing to BSE.


 
However, the consolidated total income from operations declined to Rs 6,508.62 crore over Rs 6,669.45 crore in the corresponding period last fiscal.
 
The total expenses declined to Rs 5,624.16 crore, over Rs 5,972.39 crore in the year-ago period.
 
In a statement, the company said that its net sales dropped to Rs 5,709 crore as against Rs 5,857 crore in the previous fiscal.
 
In a presentation the company said that the "domestic sales volume impacted due to good monsoon."
 
"before interest, depreciation and tax at Rs 1,378 crore was higher by 16 per cent as compared to Rs 1,186 crore in the corresponding period of previous year," it said.
 
"after tax rose 25 per cent from Rs 491 crore to Rs 614 crore in FY'17," it said.
 
On the outlook the company said that the government's thrust on developing infrastructure spending, good monsoons, development of smart cities leading to the growth in the housing demand in tier1 and tier 2 cities, slower pace of new capacity addition augur well for the cement industry.
 
UltraTech is well positioned across the country to meet the expected rise in demand and participate in the next phase of growth in the country, it said.
 
On acquisition of 21.2 MTPA cement capacity, the company said in the result presentation that approval has been received from competition Commission of India (CCI) and added that court convened meeting for seeking approval from shareholders and creditors is scheduled for October 20.
 
The "transaction expected to complete in next 5-6 months," it said.

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UltraTech Cement Q2 net profit up 25% at Rs 613.64 crore

UltraTech Cement's net sales dropped to Rs 5,709 crore as against Rs 5,857 crore in the previous fiscal

UltraTech Cement's net sales dropped to Rs 5,709 crore as against Rs 5,857 crore in the previous fiscal on Monday reported a 25 per cent growth in consolidated net at Rs 613.64 crore for the quarter ended September 30, 2016 on the back of lower expenses.
 
The flagship firm of the had clocked a consolidated net of Rs 490.59 crore in the year-ago period, it said in a filing to BSE.
 
However, the consolidated total income from operations declined to Rs 6,508.62 crore over Rs 6,669.45 crore in the corresponding period last fiscal.
 
The total expenses declined to Rs 5,624.16 crore, over Rs 5,972.39 crore in the year-ago period.
 
In a statement, the company said that its net sales dropped to Rs 5,709 crore as against Rs 5,857 crore in the previous fiscal.
 
In a presentation the company said that the "domestic sales volume impacted due to good monsoon."
 
"before interest, depreciation and tax at Rs 1,378 crore was higher by 16 per cent as compared to Rs 1,186 crore in the corresponding period of previous year," it said.
 
"after tax rose 25 per cent from Rs 491 crore to Rs 614 crore in FY'17," it said.
 
On the outlook the company said that the government's thrust on developing infrastructure spending, good monsoons, development of smart cities leading to the growth in the housing demand in tier1 and tier 2 cities, slower pace of new capacity addition augur well for the cement industry.
 
UltraTech is well positioned across the country to meet the expected rise in demand and participate in the next phase of growth in the country, it said.
 
On acquisition of 21.2 MTPA cement capacity, the company said in the result presentation that approval has been received from competition Commission of India (CCI) and added that court convened meeting for seeking approval from shareholders and creditors is scheduled for October 20.
 
The "transaction expected to complete in next 5-6 months," it said.
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