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UltraTech's Q2 net rises 53%

UltraTech Cement has posted a 53 per cent rise in its profit after tax (PAT) for the quarter ended September 30 at Rs 251 crore, compared with Rs 164 crore in the corresponding period last year. The company’s net sales during the period stood at Rs 1,541 crore against Rs 1,396 crore, up 10 per cent.

Improved realisations, higher sales and softened fuel prices helped the company put a good quarterly show.

UltraTech sold 11 per cent more cement during the quarter, with its sales volumes reaching 3.58 million tonnes against 3.23 million tonnes last year.
The earning per share for the quarter stood at Rs 20.15.

The company has a capital outlay of around Rs 2,000 crore to be spent over the next two years. The cement division of its parent company, Grasim, will be merged with UltraTech next year, taking the company’s overall capacity to close to 50 million tonnes per annum.

In its outlook, company said in a statement that despite a weak monsoon, industry demand may grow at 9 per cent during the current financial year. It added that new capacities in the sector, at various stages of commissioning, will inevitably result in pressure on margins.

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