Mumbai, 19th October, 2013
Un-audited Financial Results for the Quarter ended 30th September, 2013
|(Rs. in crores)|
UltraTech Cement Limited, an Aditya Birla Group Company, today announced its un-audited financial results for the quarter ended 30th September, 2013.
Net Sales stood at Rs. 4,502 crores as compared to Rs. 4,699 crores in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax is Rs. 717 crores and Profit after Tax is Rs. 264 crores vis-a-vis Rs. 1,076 crores and Rs. 550 crores respectively, in the corresponding period of the previous year.
The combined domestic cement and clinker sales was 9.1 MnT (9.1 MnT) while it was 2.75 LmT (2.39 LmT) for white cement and wall care putty.
The results for the quarter have been impacted mainly on account of lower selling prices and subdued demand. Cement demand remained sluggish on account of prolonged monsoon and low off take from the infrastructure and housing sectors.
The benefit of softening in prices of imported coal was negated by the devaluation of the rupee. Logistics and raw material costs continued to rise given the high diesel prices. However, optimisation of the fuel mix helped in curbing power and fuel cost to some extent.
The Company’s capex plans are progressing on schedule. During the quarter the Company commissioned a 25 MW TPP at Rajashree Cement in Karnataka. Its 1.6 mtpa cement mill at Jharsuguda in Odisha went on stream in October, 2013.
The outlook continues to remain challenging. Demand growth in FY14 is likely to be around 5%, though in the long term growth is likely to be over 8%. The key demand drivers will continue be housing and infrastructure spends.