Mumbai, 19th July, 2016
Un-audited Financial Results for the Quarter ended 30th June, 2016
Rs. in crores
UltraTech Cement Limited, an Aditya Birla Group Company, today announced its unaudited financial results for the quarter ended 30th June, 2016. The Company has adopted Indian Accounting Standards (Ind AS) with effect from 1st April, 2016. The figures for the quarter ended 30th June, 2015 have also been restated as per IndAS.
Net Sales stood at Rs. 6,538 crores as compared to Rs. 6,281 crores in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax at Rs. 1,626 crores was higher by 25% as compared to Rs. 1,302 crores in the corresponding period of the previous year. Profit after Tax rose 29% from Rs. 604 crores to Rs. 780crores in Q1FY17. Sales volume registered a growth of 6% over that of the earlier year.
The quarter witnessed improvement in operating costs on the back of operational efficiencies and a judicious power and fuel mix.
On a standalone basis, Net Sales stood at Rs. 6,182 crores as compared to Rs. 5,948 crores in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax was Rs. 1,573 crores (Rs. 1,271 crores) and Profit after Tax was Rs. 775crores (Rs. 604 crores).
The Scheme of Arrangement between the Company, Jaiprakash Associates Limited, Jaypee Cement Corporation Limited and their shareholders and creditors for acquisition of the identified cement plants located in the States of Madhya Pradesh, Uttar Pradesh, Himachal Pradesh, Uttarakhand and Andhra Pradesh, having a capacity of 21.20 mtpa has been approved by the Board of Directors of the Company, subject to requisite regulatory approvals.
During the year cement demand is expected to grow around 7%, given the Governments' focus on infrastructure development, housing sector, smart cities, roads etc. UltraTech is positioned across the country to meet the rise in demand and participate in the next phase of growth in the country.
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