Asia / Oceania
UltraTech Cement Q2 earnings double
Oct, 24 2012
(India) -- UltraTech Cement, an Aditya Birla group company that is also one of the leading cement makers in India,has reported an increase of 97.21% in net profit to Rs 5.50 billion for the quarter ended September 30, 2012 as compared to Rs 2.78 billion in the same period last year.
The net sales during the quarter rose by 20.27% to Rs 47 billion, while total income increased by 18.97% to Rs 47.68 billion, when compared with the same quarter last year.
Sales were up one per cent at 9.06 million tonnes (8.94 mt), while white cement and wall care putty sales increased 13 per cent to 2.39 lakh tonnes.
''Cement demand is likely to grow over 8% linked to the government's focus on infrastructure development, however the surplus scenario is expected to continue over the next 3 years,'' the company said.
The sharp rise in UltraTech’s net profit is attributed to higher realisation and lower base last year. The timely arrival of monsoon last year depressed cement demand, leading to dismal financial performance of cement companies.
Holcim Group-owned ACC and Ambuja Cement also reported encouraging results. The delay in onset of South-West Monsoon this year helped most companies sustain sales and pass on incremental cost to end consumers.
By: Rashmi Kalia (ARI-C NEWS)
Cement-makers want green status for power generated through waste-heat recovery. More
Holcim earns P1.43 billion in first quarter.