The cement major hopes for 7-8% growth in demand in FY17 on the back of government's push in infra sector
Workers walk in front of an UltraTech concrete mixture truck at the construction site of a commercial complex on the outskirts of Ahmedabad
Mumbai : UltraTech Cement, India's largest cement maker, has reported an increase of 10% in its consolidated net profitfor the quarter ended March, 2016. The company's profits stood at Rs 723 crore compared with Rs 657 crore in the corresponding period last fiscal.
On the yearly front too, the Birla firm registered growth of 9% in its consolidated profit after tax (PAT) at Rs 2,287 crore in FY16, against Rs 2,098 crore in FY15.
The company's board has declared a dividend of Rs 9.5 per share.
Quarterly net sales grew 5.1% to Rs 6,850 crore, while annual net sales were Rs 25,281 crore, up 5%.
Better growth in sales volume at 15% in the January-March quarter with relatively better prices helped the company post a good show in the March ending quarter.
"The operating costs reduced with operational efficiencies, a judicious fuel mix, and (a) fall in fuel prices," the company said in a statement.
In its outlook, the company said that demand is expected to grow 7-8% next year on the back of government's focus on infrastructure development, housing, and smart cities, all of which augur well for UltraTech.
On the NSE, UltraTech's shares closed strong on Monday at Rs 3,288, up 0.5% or Rs 16.9 in an otherwise weak market. The Nifty closed 44.25 points lower at 7855.05, while the benchmark Sensex on the BSE closed 159.21 points lower at 25,678.93 points.
Workers walk in front of an UltraTech concrete mixture truck at the construction site of a commercial complex on the outskirts of Ahmedabad
Mumbai : UltraTech Cement, India's largest cement maker, has reported an increase of 10% in its consolidated net profitfor the quarter ended March, 2016. The company's profits stood at Rs 723 crore compared with Rs 657 crore in the corresponding period last fiscal.
On the yearly front too, the Birla firm registered growth of 9% in its consolidated profit after tax (PAT) at Rs 2,287 crore in FY16, against Rs 2,098 crore in FY15.
The company's board has declared a dividend of Rs 9.5 per share.
Quarterly net sales grew 5.1% to Rs 6,850 crore, while annual net sales were Rs 25,281 crore, up 5%.
Better growth in sales volume at 15% in the January-March quarter with relatively better prices helped the company post a good show in the March ending quarter.
"The operating costs reduced with operational efficiencies, a judicious fuel mix, and (a) fall in fuel prices," the company said in a statement.
In its outlook, the company said that demand is expected to grow 7-8% next year on the back of government's focus on infrastructure development, housing, and smart cities, all of which augur well for UltraTech.
On the NSE, UltraTech's shares closed strong on Monday at Rs 3,288, up 0.5% or Rs 16.9 in an otherwise weak market. The Nifty closed 44.25 points lower at 7855.05, while the benchmark Sensex on the BSE closed 159.21 points lower at 25,678.93 points.
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