UltraTech announces unaudited financial results for quarter ended 31 December 2015

20 January 2016

UltraTech Cement Limited, an Aditya Birla Group company, today announced its unaudited financial results for the quarter ended 31 December 2015.

Operations
During the quarter, domestic cement sales volume increased by 7 per cent as compared to the same quarter last year. Grey cement sales was 11.26 MnT (10.51MnT) while it was 3.38 LmT (3.17 LmT) for white cement and wall care putty. Though cement prices remained subdued, the performance during the quarter was encouraging, driven by operational efficiencies, judicious fuel mix and lower energy costs. This has resulted in lower operating costs. However, this benefit was partially offset by an increase in costs due to the District Mineral Foundation levy in terms of the provisions of the Mines and Minerals (Development) Amendment Act, 2015 and amendment to the Payment of Bonus Act.

Financial performance
Net sales at Rs.6,108 crore rose by 5 per cent vis-à-vis Rs.5,832 crore in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax stood at Rs.1,245 crore, up by 18 per cent from Rs.1,058 crore. Profit after Tax soared by 36 per cent over last year to Rs.546 crore.

On a standalone basis net sales stood at Rs.5,747 crore as compared to Rs.5,488 crore in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax isRs.1,176 crore up from Rs.990 crore last year and Profit after Tax isRs.509 crore vis-a-visRs.364crore.

Outlook
The demand for cement is expected to pick up in the near term. The Government’s focus on infrastructure development, housing sector, smart cities, roads etc., augurs well for UltraTech. The company is confident of meeting the upsurge in demand and participating proactively in the next phase of growth in the country.