UltraTech Cement Q2 net jumps 53%
UltraTech Cement, the flagship of the Aditya Birla Group, has reported a 53 per cent growth in net profit for the three months ending September. HT Correspondent reports.business Updated: Oct 16, 2009 20:31 IST
UltraTech Cement, the flagship of the Aditya Birla Group, has reported a 53 per cent growth in net profit for the three months ending September.
The company achieved net sales of Rs 1,541 crores, up 10.38 per cent for Rs 1,396 crore the same period last year. Profit before Interest, Depreciation and Tax was at Rs 501 crore, up 54 per cent from Rs 325 crore.
Though the results reflect an improvement over Q2FY09, lower demand particularly in the markets of southern India, coupled with surplus capacity adversely affected the Company’s performance sequentially, said the company in a statement on Friday.
On the production side, cement production at 3.73 MMT was higher by 12 % from 3.33 MMT last year same period. Domestic cement sales volume at 3.58 MMT reflected a growth of 11 per cent over 3.23 MMT.
Overall variable cost was lower by 16 per cent on account of softening in fuel prices and enhanced share of power from the captive thermal power plants.