UltraTech Cement Q3 PAT down by 23.36 percent

New Delhi, January 20, 2018: UltraTech Cement Limited, an Aditya Birla Group Company, today reported a drop of 23.36 percent in its Profit after Tax (PAT) at Rs 456 crores as against Rs. 595 crores in the same quarter a year ago. Net Sales for the quarter under review on consolidate basis stood at Rs. 7,897 crores as compared to Rs. 5,927 crores in the corresponding period of the previous year, company release said Profit before Interest, Depreciation and Tax was Rs. 1,494 crores as compared to Rs. 1,280 crores in the corresponding period of the previous year.On a standalone basis Net Sales stood at Rs. 7,471 crores as compared to Rs. 5,540 crores in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax was Rs. 1,425 crores as compared to Rs. 1,210 crores in the corresponding period of the previous year., release said Stand alone Profit after Tax was Rs 421 crores as compared to Rs 563 crores in the corresponding period of the previous year.

The quarter witnessed increase in variable costs attributable to rise in pet coke and coal prices. The ban on pet coke usage in some states also adversely impacted performance. Regardless, the Company registered a 18 percent PBIDT growth during the quarter. After successfully launching the ‘UltraTech Brand’ in all the markets being served from the acquired plants, the operations are inline with the Company’s ramp-up strategy. Improved capacity utilisation currently touching 60 percent from a low of 18 percent at the time of acquisition is encouraging. Substantial improvements have been carried out at these plants in terms of their operating parameters. Appointment of new dealers and retailers is an on-going program to increase the reach of UltraTech in the new markets. The acquisition is generating incremental earnings as planned and which are improving month on month, release added.

United News of India