UltraTech's Q1 profit up at Rs 778 crore
UltraTech Cement, an Aditya Birla Group company, announced its unaudited financial results on July 21 for the quarter ended June, 30, 2012.
Net sales stood at Rs 5,075 crore as compared to Rs 4,352 crore in the corresponding period of the previous year. Profit before interest, depreciation and tax is Rs 1,377 crore and profit after tax is Rs 778 crores vis-a-vis Rs 1,252 crore and Rs 683 crore respectively, in the corresponding period of the previous year.
The combined domestic cement and clinker sales was 9.94 million tonne (9.48 mn t). The variable cost rose by 10 per cent as compared to Q1FY12. This was mainly on account of higher energy and raw material prices which are linked to the last increase in railway freight and increase in diesel prices. Although imported coal prices softened by around 19 per cent, the depreciation in rupee by 21 per cent offset the benefit.
The company's board has further sanctioned capex of Rs 1,000 crore towards modernisation and setting up of ready mix concrete plants across the country. This brings the total capex under implementation to around Rs 12,000 crore.