20 October 2007
UltraTech reports results for the quarter ended 30 September 2007
|Rs. in Crore|
|Quarter ended 30 September 2007||Quarter ended 30 September 2006||per cent change|
|Profit after tax||186||127||46|
UltraTech Cement Limited, an Aditya Birla Group company, today announced its unaudited financial results for the quarter ended 30 September 2007.
Net sales at Rs.1,173 crore (Rs.1,005 crore) is up by 17 per cent compared to the corresponding quarter of the previous year. Profit before depreciation, interest and tax at Rs. 355 crore (Rs. 266 crore) grew 33 per cent. Profit after tax rose by 46 per cent from Rs.127 crore to Rs.186 crore.
The company produced 3.34 mmt (3.00 mmt) of cement. The effective capacity utilisation was 85 per cent (84 per cent) on account of planned maintenance shutdown.
Domestic volume at 3.15 mmt (2.80 mmt) registered a growth of 12 per cent. Exports were curtailed to cater to the domestic market.
Costs continue to remain under pressure on account of mounting shipping freight and coal prices.
The capex announced by the company is progressing on schedule. These include the setting up of captive power plants at the company’s units in Chattisgarh and Gujarat and expansion of capacity at the unit in Andhra Pradesh together with a split grinding unit. The power plant in Gujarat will be commissioned in a phased manner commencing from the last quarter of the current financial year. Ready mix concrete plants are also being set up across the country.
Around Rs. 3,300 crore has been earmarked, to be spent over the next three years on these expansions and de-bottlenecking.
The industry has announced additional capacities of around 90 million tonnes to be commissioned over the next three years. These could result in a surplus scenario thereby putting pressure on prices from end FY09. However, the demand for cement is expected to grow around 10 per cent linked to GDP growth.
For more information, contact:
Dr. Pragnya Ram
Group Executive President
Corporate Communications & CSR
Aditya Birla Management Corporation Private Limited
Tel: 91-22-6652 5000 / 2499 5000
Fax: 91-22-6652 5741/ 42