Ultratech cement registers three per cent rise
Ultratech Cement, an Aditya Birla Group company, has reported a 3% rise in net profit during the quarter ending December.
The company registered net profit of Rs 436.66 crore, a three per cent rise from Rs 423.76 crore, which it registered in the previous quarter.
Company’s revenue from operations stood at Rs 8019.24 crore in quarter ending December, recording a 17% increase from the previous quarter.
According to the company, the quarter witnessed increase in variable costs attribute to rise in pet coke and coal prices. “The ban on pet coke usage in some states also adversely impacted performance,” it said in a media release.
Ultratech Cement claims that post acquisition of Jaiprakash Associates’ cement plants capacity utilisation has improved and is now touching 60% from a low of 18% at the time of acquisition. “The acquisition is generating incremental earnings as planned, which are improving month on month,” the release said.