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HindustanTimes Sat,19 Apr 2014

Ultratech net profit rises 9% in 2012-13

HT Correspondent, Hindustan Times  Mumbai, April 22, 2013
First Published: 20:49 IST(22/4/2013) | Last Updated: 20:50 IST(22/4/2013)

Kumar Mangalam Birla-led Aditya Birla group company UltraTech Cement on Monday reported a 9% growth in net profit to Rs. 2,655 crore for fiscal year 2012-13. Revenues grew 10% to Rs. 20,018 crore during the period.

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The company, however, reported a 16% year-on-year decline in net profit to Rs. 726 crore during January-March on low volumes and high raw material costs. Revenues grew 1% to Rs. 5,389 crore.

"The year witnessed continuing pressure on input and logistics costs, given the increase in railway freight and hike in diesel prices though there was some relief on account of softening in prices of imported coal," the company said in a statement.

By commissioning three units, UltraTech raised its cement production capacity from 48.75 million tonne to 50.90 million tonne during the quarter. The company will complete the Rs. 2,000-crore expansion of its Aditya Cement facility in Rajasthan by March 2015. With the commissioning of the this and other projects, the company's cement capacity will rise to 61.45 million tonne.

UltraTech also hopes that  long-term demand for cement will grow 8% per annum along with India's GDP growth.

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