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UltraTech Cement, an Aditya Birla Group company, has reported 11 per cent fall in consolidated fourth quarter net profit at ₹726 crore against ₹818 crore loged in the same period last year, largely due to higher cost and lower realisation.
Net sales increased three per cent to ₹7,924 crore (₹7,700 crore).
The company has declared a dividend of ₹10 per share leading to total outgo of ₹330 crore, including a corporate dividend tax of ₹56 crore.
Cement sales during the March quarter was marginally up at 13.35 million tonnes (13.32 mt), while white cement and wall putty sales increased a tad to 3.86 lakh tonnes (3.85 lt).
Overall expenses were up five per cent at ₹7,110 crore (₹6,744 crore) on the back of higher freight (2 per cent), power and fuel (13 per cent) costs besides nine per cent increase in other expenses.
On the acquisition of Japee Group cement, the company said a joint application for transfer of mineral concessions from Jaiprakash Associate and Jaiprakash Cement Corporation to UltraTech has been filed with the respective state governments.
Meanwhile, the company has received requisite shareholders approval, National Company Law Tribunal, Mumbai bench and the Allahabad bench, besides from the Securities and Exchange Board of India.
It is also setting up a 3.5-million-tonne per annum integrated cement plant at Dhar, Madhya Pradesh, and is expected to be completed by Q4 FY-19. In the last year, the company has commissioned grinding units at Nagpur, Maharashtra and Patliputra, Bihar.
With this expansion and the acquisition of the cement plants of Jaiprakash Associates, UltraTech’s capacity will increase to 95.4 mtpa, including its overseas operations.
In the financial year ended March, the company’s consolidated sales increased marginally to ₹25,092 crore (₹24,880 crore), while net profit was up 10 per cent at ₹2,715 crore (₹2,478 crore).
The company’s scrip were up four per cent at ₹4,144 on Monday.
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