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UltraTech Cement Q3 profit falls 14% YoY to Rs 394 crore

Net sales rose 19 per cent to Rs 9,258 crore from Rs 7,779 crore last year.|
Updated: Jan 24, 2019, 02.19 PM IST
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NEW DELHI: UltraTech Cement on Thursday reported a 13.59 per cent drop in consolidated profit at Rs 394 crore for December quarter. The company had reported Rs 456 crore profit in the year-ago period.

Net sales rose 19 per cent to Rs 9,258 crore from Rs 7,779 crore last year. Domestic sales volume grew 15 per cent on a year-on-year basis, the company said in a regulatory filing.

The company said its numbers were hurt by 11 per cent rise in costs, largely due to higher fuel expenses and a depreciation in the rupee. Interest costs too jumped on account of higher loans raised for the acquisition of UNCL, the company said.

"Demand is witnessing an upward movement with higher spends on infrastructure and government sponsored housing programme. With the additional capacities acquired by the company through the organic and inorganic route and its rapid ramp-up, UltraTech is very well placed to participate in the growth of the economy ," the company added.

The company said that one of its plants in central region underwent a major overhaul in December quarter and has achieved cost improvements.

UltraTech has completed Binani Cement acquisition during the December quarter and is confident of turning around the operations at the acquired plants.
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