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Home / India News / 2007 / January / January 18, 2007
UltraTech Reports Results for Quarter Ended 31st December, 2006

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UltraTech Reports Results for Quarter Ended 31st December, 2006

Mumbai, Maharashtra, India

                                             Rs in crores

31st December, 2006 31st December, 2005

Net Sales 1,260 789
PBIDT 397 117
PAT 212 24


UltraTech Cement Limited, an Aditya Birla Group Company, today announced its unaudited financial results for the quarter ended 31st December, 2006. The Quarter under review witnessed continued improvement in performance on the back of higher volumes and capacity utilisation; management efforts to neutralize escalating energy costs per tonne and better domestic and export realizations.

Net Sales at Rs. 1,260 crores was up 60 % compared to the corresponding period in the previous year (Rs.789 crores). Operating Profit was Rs.397crores (Rs.117 crores). After providing for Interest - Rs. 20 crores (Rs.23 crores), Depreciation - Rs. 57 crores (Rs. 51 crores) and Tax - Rs.107 crores (Rs. 19 crores), the Profit After Tax stood at Rs. 212 crores (Rs. 24 crores), which is over 8 times compared to the corresponding quarter in Q3FY06.

The surge in turnover is attributed to the increase in sales volumes which grew by 15% from 39.24 LMT in Q3FY06 to 44.96 LMT during the quarter and improved domestic sales realisation by around 50 %.

Increase in variable cost per tonne was restricted to 5% through change in power sources and better consumption norms, despite an increase in imported coal prices as well as reduced availability against domestic linkages.

During the Quarter the Company produced 36.36 LMT of clinker (35.26 LMT) and 35.87 LMT of cement (33.23 LMT). Effective cement capacity utilisation improved from 88% to 103%.

Work on setting up Captive Power Plants at the Company's Units in Gujarat, Chhatisgarh and Andhra Pradesh is progressing on schedule. These are expected to be commissioned during 2008. Upon commissioning, the power costs will reduce substantially. Further, work on increasing capacity at the Company's Unit in Andhra Pradesh is also on track. The enhanced capacity will meet the growing demand in the lucrative markets in South India.

During the quarter, the Board approved the formulating of an Employee Stock Option Scheme. The Company's shareholders have also granted their approval for formulating the Scheme and granting, offering and issuing in one or more tranches, not more than 375,000 equity shares of Rs.10/- each, representing 0.30 % of the equity share capital of the Company to eligible employees.

Given that Industry growth is expected to be around 10%, linked to GDP growth, the outlook for the Company seems promising.


To view the unaudited financial results, please click the link given below:

http://www.businesswireindia.com/attachments/Unaudited_Financial_Results(3).xls

Dr Pragnya Ram, Aditya Birla Group, +91 (022) 5652 5000 pragnyaram@adityabirla.com

Source: UltraTech Cement Limited (Business Wire India)

Press release presented here is sourced from the Source mentioned above and is provided on as-is basis. Please contact the Company / Source directly for any further information in regard to this release. This website will be unable to assist you in regard to the accuracy or correctness of information in this release.

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