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| UltraTech Cement Q2 profit rises 53% to Rs 251 cr |
| BS Reporter / Mumbai Oct 16, 2009, 15:23 IST |
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UltraTech Cement, the country's largest cement maker capacity-wise, posted a rise of 53 per cent in its profit after tax (PAT) at Rs 251 crore for the quarter ended
September 30, 2009 compared with Rs 164 crore in the corresponding period last year. The company's net sales during the period stood at Rs 1,541 crore as
against Rs 1,396 crore, up 10 per cent.
Improved realisations, higher sales and softened fuel prices helped the company put good quarterly show.
"On a year-on-year basis, our realisation improved by 6 per cent from Rs 3,530 a tonne to Rs 3,740 a tonne in September quarter. Along with that our energy costs
came down 30 per cent as captive power plants contributed 70 per cent of our requirement," K C Birla, chief financial officer of UltraTech told Business Standard.
The 23.1-million tonne company, part of the Aditya Birla group, sold 11 per cent more cement during the quarter with its sales volumes reaching 3.58 million tonnes
against 3.23 million tonnes last year.
The earning per share for the quarter stood at Rs 20.15.
The company has a capital outlay of around Rs 2,000 crore to be spent over the next two years. The cement division of its parent company Grasim will be merged
with UltraTech next year taking the overall capacity of the company to close to 50 million tonnes per annum.
In its outlook, company said in a statement that despite weak monsoon, industry demand may grow at 9 per cent during the current financial year. It further added
that new capacities in the sector, which are at various stages of commissioning, will inevitably result in pressure on margins.
On the Bombay Stock Exchange, the company's share price on Friday closed weak at Rs 824.75, down 2.37 per cent.
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