Ultratech Cement's Q1 net profit up 29% to Rs. 780 crore

Leading cement producer Ultratech Cement reported its consolidated net profit of Rs. 780.11 crore, witnessing a rise of 29.17% compared to Rs. 603.92 crore in the June quarter ended 2015.

Total income also grew by 3.91% to Rs. 6,589.71 crore against Rs. 6,341.41 crore in in June quarter ended 2015.

The company’s operating profit (EBITDA- earnings before interest tax depreciation and amortization) increased by 3.62% to Rs. 2,141.35 crore versus Rs. 2,066.44 crore in Q1FY16. It’s OPM (operating profit margin) stood at 32.49%, contracting by 9 bps (basis point) yoy.

Ultratech Cement has adopted Indian accounting standard (Ind-AS) from the start of the current financial year. The figures of the June quarter ended 2016 are in compliance with Ind AS.

On standalone basis, the company registered net profit of Rs. 774.92 crore, rising by 28.29% yoy, while its total income stood at Rs. 6,232.53, recording 3.75% growth.

While its standalone operating profit stood at Rs. 2,043.50 crore, up by 3.97% yoy. However, on standalone basis, the company’s OPM improved at 32.78%, expanding by 7 bps yoy.

This quarter for the company witnessed improvement in operating cost on the back of operational efficiencies and a judicious power and fuel mix. 

The share price of the Ultratech Cement soared by 12 points or 0.33% at Rs. 3,511.25. 

More details to follow.