UltraTech Cement reports double digit increase in cement sales

Byrebecca3360

Updated Tue, 22 Jul 2014 11:12:58 GMT

UltraTech Cement, part of the Aditya Birla Group, has reported a 1Q net profit of Rs.625.57 crore, down from Rs.672.60 crore in the 1Q of the 2013/14 financial year. The two quarters are not directly comparable, as this year’s 1Q figures include the Gujarat units of Jaypee Cement from 12 June.

On a consolidated basis, net sales and other operating income reached Rs.6032.30 crore, up from Rs.5295.87 crore last year. Grey clinker and cement sales hit 11.7 million t, a 16% increase y/y, while white cement and wall care putty sales grew 3% to 2.57 lakh tonnes.

In a statement, the company said that its total power capacity – including waste heat recovery systems – stands at 709 MW, which meets about 80% of its power needs.

UltraTech Cement expects cement demand to grow 7 – 8% thanks to renewed government spending on housing and infrastructure. In the second half of this fiscal year, the company said, demand growth could be in the double digits.