22 October 2005
UltraTech results for the quarter ended 30 September 2005
Rs. in Crore
|Particulars||Quarter ended||Half year ended|
|30. 9. 2005||30.9.2005|
|Profit before tax expenses||(1)||86|
|Provision for current tax||6||42|
|Provision for deferred tax||(8)||(16)|
UltraTech Cement Limited reported a 11 per cent increase in revenues at Rs. 635 crore (Rs. 571 crore in the corresponding period last year) for the quarter ended 30 September 2005. The profit after tax stood at Rs. 0.1 crore (compared to a Loss of Rs. 2 crore in the corresponding period last year) after providing for Rs. 22 crore interest (Rs. 27 crore) and Rs. 52 crore depreciation (Rs. 65 crore).
The results for the quarter ended 30 September 2005 were adversely affected on account of the following:
As a result, capacity utilisation for Q2 stood at 69 per cent compared to 95 per cent in Q1, and 80 per cent in the corresponding quarter last year. This is reflected in the aggregate sales volume in Q2 at 30.90 lakh MT, down 8 per cent on the corresponding quarter last year.
Apart from these non-recurring factors, the escalation in energy prices depressed earnings, specially naphtha prices, which sharply increased power costs at the company's plant in Kovayya.
Domestic cement realisations increased by five per cent over the corresponding period last year, with export clinker and cement realisations also showing an increase of 31 and 29 per cent respectively.
The company continues to expand cement exports in preference over clinker.
The company expects a recovery in both domestic and export sales in H2 '06, and will endeavour to improve realisations to compensate for the increase in energy prices.
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
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