UltraTech Cement announces 91% rise in consolidated profit

India’s UltraTech Cement Ltd has announced a 91 per cent YoY growth in consolidated net profit to INR12.08bn (US$171.2m) for the quarter ending 30 June, compared with INR6.31bn in the year-ago period. Net sales increased 15 per cent to INR100bn, while EBITD surged 61 per cent to INR28.4bn from INR17.6bn.

Standalone net sales rose 15.5 per cent YoY in the 1QFY19-20, reaching INR96.48bn from INR83.54bn. The company more than doubled its net profit which soared to INR11.99bn from INR5.98bn. EBITD was up 59 per cent to INR27bn against INR16.97bn in the corresponding period of the previous fiscal.

Domestic sales increased three per cent to 17.26Mt while exports and other sales dropped seven per cent to 0.6Mt. In total, volumes showed a modest rise of two per cent to 17.86Mt from 17.48Mt.

UltraTech Nathdwara Cement Ltd, formerly Binani Cement, has been fully integrated into the company, following major overhauling of its plants and the completion of quality upgrades, according to a press release. The plants have now reached optimal efficiency.

Elsewhere, UltraTech reported that its Bara grinding unit is now scheduled for commissioning in the 3QFY19-30 after delays in the project.