UltraTech reports 37% jump in volumes; EBITDA up 18%
Mumbai, 18th January, 2018Rs. in crores
|Quarter ended||Quarter ended|
(Net of taxes)
UltraTech Cement Limited, an Aditya Birla Group Company, today announced its unaudited financial results for the quarter ended 31st December, 2017.
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. Regardless, the Company registered a 18% PBIDT growth during the quarter.
After successfully launching the ‘UltraTech Brand’ in all the markets being served from the acquired plants, the operations are in line with the Company’s ramp-up strategy. Improved capacity utilisation currently touching 60% from a low of 18% at the time of acquisition is encouraging. Substantial improvements have been carried out at these plants in terms of their operating parameters. Appointment of new dealers and retailers is an on-going program to increase the reach of UltraTech in the new markets. The acquisition is generating incremental earnings as planned and which are improving month on month.
Net Sales stood at Rs. 7,897 crores as compared to Rs. 5,927 crores in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax was Rs. 1,494 crores vis-à-vis Rs. 1,280 crores in the corresponding period of the previous year. Profit after Tax was Rs.456 crores as against Rs. 595 crores in Q3FY17.
On a standalone basis Net Sales stood at Rs. 7,471 crores as compared to Rs. 5,540 crores in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax was Rs. 1,425 crores (Rs. 1,210 crores) and Profit after Tax was Rs.421 crores (Rs. 563 crores).
The expected higher budget allocation for infrastructure and rural development will be the key demand drivers.