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UltraTech Cement has reported a 25 per cent increase in its net profit to ₹614 crore for the quarter ended September 2016, driven by other income and operational performance.
Net sales, however, dipped to ₹5,709 crore against ₹5,857 crore in the corresponding period of the previous year.
Profit before interest, depreciation and tax at ₹1,378 crore was higher by 16 per cent against ₹1,186 crore in the corresponding period of previous year.
Profit after tax rose 25 per cent from ₹491 crore to ₹614 crore.
The company said that the government’s thrust on developing infrastructure spending, good monsoons, development of smart cities leading to growth in housing demand in tier I and II cities, slower pace of new capacity addition augur well for the cement industry.
“UltraTech is well positioned across the country to meet the expected rise in demand and participate in the next phase of growth in the country,” it said.
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