UltraTech Cement's Q4 consolidated net profit dips

Aditya Birla Group company UltraTech Cement on Wednesday reported a decline in its consolidated net profit for the fourth quarter of 2017-18.

According to the company, its Q4 net profit declined to Rs 724 crore from Rs 726 crore reported for the corresponding period of the previous financial year.

Further, the company reported that its consolidated net sales during the quarter under review increased to Rs 9,298 crore from Rs 6,922 crore in the corresponding quarter of 2016-17.

"During Q4 FY18, the company recorded a robust growth of 31 per cent in volumes with a 5 per cent increase in realisations," the cement manufacturer said in a statement.

"The quarter continued to witness increase in input costs attributable to rise in pet coke and coal prices and the ban on pet coke usage in TPPs."

On a financial year basis, the company reported that its consolidated net profit dipped to Rs 2,534 crore for the year ended March 31, 2018 from Rs 2,714 crore reported for the previous financial year.

"The Board of Directors at their meeting held today (Wednesday) recommended a dividend of 105 per cent, at the rate of Rs 10.50 per equity share of face value of Rs 10 each aggregating Rs 288.34 crore," the statement said.

"The company will absorb the Dividend Distribution Tax amounting to Rs 59.27 crore, resulting in a total payout of Rs 347.61 crore."

--IANS

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