UltraTech Cement Q1 profit doubles to Rs 1,208 crore, meets estimates
Net sales for the quarter rose 14.98 per cent to Rs 10,027 crore from Rs 8,720 crore.
Dalal Street analysts were expecting a profit of Rs 1,130-1,165 crore.
Net sales for the quarter rose 14.98 per cent to Rs 10,027 crore from Rs 8,720 crore in the year-ago period.
PBIDT for the quarter jumped 61 per cent to Rs 2,840 crore compared with Rs 1,763 crore a year ago.
The company said the overhauling of the plants of Nathwara Cement were completed during the quarter. The quality upgradation has been fully integrated with UltraTech systems and processes. The plants have achieved optimal efficiencies.
Meanwhile, the NCLT had on July 3 sanctioned the scheme of demerger between Century Textiles and the company. The company said the scheme will be made effective upon receipt of the remaining regulatory approvals during the second quarter, UltraTech said in a BSE filing.
The company will issue one share for every eight shares of Century to the latter's shareholders.
After the completion of the transaction and coupled with the ongoing expansion, the company will achieve an installed capacity of 117.35 million tonnes per annum, inclusive of overseas operations.