UltraTech Cement announces unaudited financial results for the quarter ended 30 June 2016
19 July, 2016
Share19 July 2016
| (Rs. in crores) | |||||
| Consolidated | Standalone | ||||
| Particulars | Q1FY’17 | Q1FY’16 | Q1FY’17 | Q1FY’16 | |
| Net sales | 6,538 | 6,281 | 6,182 | 5,948 | |
| PBIDT | 1,626 | 1,302 | 1,573 | 1,271 | |
| PAT | 780 | 604 | 775 | 604 | |
UltraTech Cement Limited, an Aditya Birla Group company, today announced its unaudited financial results for the quarter ended 30 June 2016. The company has adopted Indian Accounting Standards (Ind AS) with effect from 1 April 2016. The figures for the quarter ended 30 June 2015 have also been restated as per IndAS.
Financials
Net sales stood at Rs.6,538 crore as compared to Rs.6,281 crore in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax at Rs.1,626 crore was higher by 25 per cent as compared to Rs.1,302 crore in the corresponding period of the previous year. Profit after Tax rose 29 per cent from Rs.604 crore to Rs.780 crore in Q1FY17. Sales volume registered a growth of 6 per cent 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 crore as compared to Rs.5,948 crore in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax was Rs.1,573 crore (Rs.1,271 crore) and Profit after Tax was Rs.775 crore (Rs.604 crore).
Corporate development
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.
Outlook
During the year cement demand is expected to grow around 7 per cent, given the Government’s 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.
