Ultratech Cement today reported a decline of 11.31% in its consolidated net profit to Rs 725.90 crore for the fourth quarter ended March 31, 2017 on account of higher expenses.
The firm, part of the Aditya Birla Group, had clocked a net profit of Rs 818.56 crore in the January-March period a year-ago, Ultratech said in a BSE filing.
Total income of the company was up 4.12% to Rs 8,164.72 crore during the quarter under review as against Rs 7,841.05 in the corresponding quarter of last fiscal.
Its total expenses were up 14.33% to Rs 7,710.32 crore as against Rs 6,743.85 crore.
“Domestic grey cement sales were 47.62 million tonnes for the full year and 13.35 million tonnes for fourth quarter of FY17. White cement and wall care putty recorded sales of 13.18 lakh million tonnes during FY17 and 3.86 lakh million tonnes for the quarter ended on March 31, 2017,” the company said.
For the financial year ended on March 31, 2017, Ultratech Cement’s net profit was up 9.55% to Rs 2,714.92 crore as against Rs 2,478.04 crore of FY16.
For 2016-17, Ultratech Cement’s total income was up 1.52% to Rs 29,294.05 crore as against Rs 28,855.39 crore in the year-ago period.
It further informed that its board in a meeting held today recommended a dividend of 100%, at the rate of Rs 10 per share of face value of Rs 10 each aggregating Rs 274.51 crore.
Shares of Ultratech Cement were trading 4.69% up at Rs 4,155.05 on BSE.