Ultratech Cement Q3 net dips to Rs 601 crore

Mumbai: Impacted by higher raw material and logistics costs, Ultratech Cement's third quarter net profit dipped marginally to Rs 601 crore, from Rs 617 crore in the same quarter last fiscal.

Net sales of the company, however, increased to Rs 4,857 crore in Q3, compared to Rs 4,565 crore in the same period in 2011-12, Unitech said in a statement today. "On the cost front, year-on-year, raw materials and logistics cost were mainly impacted due to increase in railway freight and hike in diesel prices," it said.

The companys's on-going capacity expansion plans towards setting up of additional clinkerisation plants at Chhattisgarh and Karnataka were on track. Reuters

"Energy cost, i.e. imported coal remained at $ 100/tonne levels. The benefit of softening in coal prices was partly offset by the depreciation in rupee," it added. Total expenses of the company rose to Rs 4,072 crore from Rs 3,833 crore a year ago.

The companys's on-going capacity expansion plans towards setting up of additional clinkerisation plants at Chhattisgarh and Karnataka were on track. "These projects are expected to be operational by early

FY'14. They will augment the company's cement capacity by 9.2 million tonnes per annum (mtpa) bringing it to a total of 62 mtpa," it added.

Backed by some positive economic sentiments, long-term demand of the building material was likely to see eight percent growth, with housing, infrastructure and allied spending being the key value drivers, the company said.

"However, the surplus scenario is expected to continue over the next three years. Input costs are likely to increase in line with general inflation with margins remaining range bound," it said.

PTI


Updated Date: Dec 20, 2014 16:12 PM

Also Watch

Watch: Firstpost test rides the new Thunderbird 500X in Goa and walks you through the Royal Enfield Garage Cafe
  • Tuesday, April 17, 2018 Varun Dhawan on Shoojit Sircar's October, 5-star reviews and working with Anushka Sharma in Sui Dhaaga
  • Saturday, April 14, 2018 Ambedkar Jayanti: Re-visiting Babasaheb's ideals exposes fake Dalit politics of Rahul Gandhi and Congress
  • Monday, April 9, 2018 48 hours with Huawei P20 Pro: Triple camera offering is set to redefine smartphone imaging
  • Monday, April 16, 2018 Rajyavardhan Singh Rathore interview: Sports can't be anyone's fiefdom, we need an ecosystem to nurture raw talent

Also See