UltraTech Cement Q1 net profit up 15% to Rs 891 cr

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New Delhi: UltraTech Cement stated that its net profit up by 15 percent to Rs 891 crore in June quarter, driven by operational income and inferior finance cost. Revenue throughout the quarter augmented 6 percent to Rs 7,520.3 crore contrasts with Rs 7,095.2 crore in similar quarter previous fiscal.

Rupee up 3 paise to Rs 64.32 against US Dollar

The results integrated revenue of cement plants of Jaiprakash Associates and Jaypee Cement Corporation attained in terms of a scheme of pact which was effectual from 29th June, 17.

UltraTech finished acquisition of cement plants of Jaiprakash Associates and Jaypee Cement in Madhya Pradesh, Uttar Pradesh, Himachal Pradesh, Uttarakhand and Andhra Pradesh with a capacity of 21.2 million tonnes.

The corporation further stated that, with this acquirement, its cement capacity augmented to 93 million tonnes per annum. Administration spending on infrastructure, rural and affordable housing will be first demand drivers.

Operating profit raise by 9.7 percent on yearly basis to Rs 1,560 crore and margin expanded to 23.5 percent in the quarter concluded June 2017.

Operational growth was impacted by power and fuel cost that augmented around 32 percent to Rs 1,217.4 crore YoY. Finance cost throughout the quarter reduced 15.7 percent to Rs 128.5 crore from Rs 152.5 crore on yearly basis.

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