UltraTech Cement's Q4 profit falls 38.5% to Rs 4.5 bn on higher expenses

Shares of Ultratech Cement today settled at Rs 4,114 on BSE, down by 0.26% from the previous close

Aditya Birla Group firm UltraTech Cement on Wednesday reported posted a 38.5 per cent fall in fourth-quarter profit on Wednesday, as higher expenses weighed. The consolidated net profit stood at Rs 4.46 billion (Rs 446.13 crore) for the fourth quarter ended on March 31, 2018. 

The company had posted a net profit of Rs 7.26 billion (Rs 726.09 crore) in the January-March quarter a year ago, UltraTech Cement said in a BSE filing.

UltraTech's net sales were at Rs 94.2 billion (Rs 9,420.76 crore) during the quarter under review against Rs 79.24 billion (Rs 7,923.80 crore) in the corresponding period of the previous fiscal.

"During Q4FY 2017-18, the company recorded a robust growth of 31 per cent in volumes with a five per cent increase in realisation," UltraTech Cement said in a statement.

It further added: "The quarter continued to witness increase in input costs attributable to rise in pet coke and coal prices and the ban on pet coke usages. Regardless, the company registered a 19 per cent PBIDT growth (profit before interest, depreciation and tax) during the quarter and a 15 per cent PBIDT growth for the year."

The company informed that its results were not comparable as these include results of assets acquired from Jaiprakash Associates Limited and Jaypee Cement.

"The results include the financial results for the cement plants acquired from Jaiprakash Associates Limited and Jaypee Cement Corporation Limited on June 29, 2017 and hence the figures for the three months and year ended March 31, 2018, are not comparable with the previous corresponding periods," it said.

For the financial year 2017-18 ended on March 31, 2018, UltraTech Cement's net profit was at Rs 22.24 billion (Rs 2,224.46 crore) against Rs 27.14 billion (Rs 2,713.51 crore) in FY 2016-17.

Its net sales were at Rs 323 billion (Rs 32,304.63 crore) in FY2017-18 against Rs 286.46 billion (Rs 28,645.93 crore) in the previous financial year.

Meanwhile, in a separate filing UltraTech Cement informed BSE its board has recommended a dividend of Rs 10.50 per equity share of Rs 10 each for the year ended March 31, 2018.

Shares of Ultratech Cement today settled at Rs 4,114 on BSE, down by 0.26 per cent from the previous close.