19 January 2008
UltraTech reports results for the quarter ended 31 December 2007
|Rs. in Crore|
|Quarter ended 31 December 2007||Quarter ended 31 December 2006||per cent change|
UltraTech Cement Limited, an Aditya Birla Group Company, today announced its unaudited financial results for the quarter ended 31 December 2007.
Net sales at Rs.1,382 crore is up by 10 per cent compared to Q3FY07 (Rs.1,260 crore). Profit before interest, depreciation and tax at Rs.489 crore (Rs.397 crore) rose 23 per cent. Profit after tax grew by 32 per cent from Rs. 212 crore to Rs. 279 crore. Sales of ready mix concrete accounted for around five per cent of the company's turnover.
The company produced 3.60 mmt (3.59 mmt) of cement. The effective cement capacity utilisation was 102 per cent. Domestic cement volume registered a growth of 6 per cent from 3.21 mmt in Q3FY07 to 3.40 mmt.
Increase in variable cost per tonne was restricted to four per cent as a result of improved production efficiencies. This was despite higher energy costs by nine per cent, primarily due to escalating coal prices.
UltraTech has earmarked a capex of around Rs. 3,300 crore, to be spent over the next three years towards expansions, setting up of captive power plants and de-bottlenecking. Of these, capacity expansion at the company's unit in Andhra Pradesh and the first phase of the captive power plant at the unit in Gujarat are expected to be commissioned in the current quarter. The other projects are progressing on schedule.
The industry has announced additional capacities of around 90 million tonnes, expected 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