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UltraTech Q4 profit more than doubles to Rs 1,017 crore, beats Street estimates

Standalone sales jumped 18 per cent YoY to Rs 10,334 crore from Rs 8,750 crore.|
Updated: Apr 24, 2019, 02.10 PM IST
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NEW DELHI: UltraTech Cement on Wednesday said its standalone profit more than doubled to Rs 1,017 crore in March quarter against Rs 488 crore in the year-ago period.

Analysts in an ET NOW poll had projected a net of Rs 820 crore.

Standalone net sales jumped 18 per cent YoY to Rs 10,334 crore from Rs 8,750 crore in the year-ago quarter. Domestic sales volume for the quarter rose 16 per cent.

The company noted that while the cement industry has been seeing pick up in demand since FY18, there continues to be relatively low capacity addition, which has resulted in improving capacity utilisation, industry-wide.

On a consolidated basis, net profit stood at Rs 1,013 crore in March quarter.

The clinker capacity and cement grinding facility at Manavar, Madhya Pradesh, have stabilised, with the clinker capacity operating at 100 per cent utilisation, the company said.

The company noted that its variable costs rose 3 per YoY on account of higher fuel prices and impact of rupee depreciation.
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