Ultratech Q1 net profit at Rs 673 crore
Aditya Birla Group firm UltraTech Cements on Monday reported a 13.5% year-on-year fall in net profit to Rs 673 crore in April-June against a year ago, mainly due to rising input costs and a depreciating rupee. Revenue declined 2% to Rs 4,958 crore during the quarter.
“The quarter witnessed an increasing trend in logistics and raw material costs, linked to increase in railway freight and diesel prices. The benefit of softening in prices of imported coal was partly offset by the depreciation in the rupee,” the company said in a statement.
The company will increase its manufacturing capacity by 10 million tonnes to 64.45 million tonnes in the next 20 months, UltraTech chairman Kumar Mangalam Birla said.
“The government's focus on infrastructure development should bolster the demand for cement,” he added.