UltraTech Cement Q3 net profit at Rs 456.66 cr

Aditya Birla Group firm UltraTech Cement today reported consolidated net profit at Rs 456.66 crore for the third quarter ended December 31, 2017.
The company had posted Rs 693.96 crore net profit in the October-December period of the previous fiscal, UltraTech Cement said in a BSE filing.
The company's total income stood at Rs 8,175.40 crore during the quarter under review. It was Rs 6,858.46 crore in the corresponding quarter of the last fiscal.
Its total expenses stood at Rs 7,536.53 crore.
According to Ultratech, the result is not comparable as the third quarter includes the cement plants of Jaiprakash Associates Ltd (JAL) and Jaypee Cement Corporation Ltd (JCCL), which it had acquired last year.

"The quarter witnessed increase in variable costs attributable to rise in pet coke and coal prices. The ban on pet coke usage in some states also adversely impacted performance," the company said in a statement.

During the quarter, Ultratech's domestic sales volume was at 15.1 million metric tons (MMT). It was 11 MMT in third quarter of 2016-17.
On the outlook, the company said: "The expected higher budget allocation for infrastructure and rural development will be the key demand drivers."
Shares of Ultratech Cement ended 2.95 per cent down at Rs 4,408.55 apiece on BSE today.