New Delhi : Ultratech Cements reported about 6 % fall in consolidated net profit at Rs 591 crore for the first quarter ended June 30, 2015-16.
The Aditya Birla Group firm had posted net profit of Rs 628 crore in the year-ago period. Its consolidated net sales rose by 6 % to Rs 6,372 crore in April-June quarter of 2015-16, from Rs 5,989 crore in the same quarter of 2014-15 fiscal, Ultratech said in a filing to the BSE. During the quarter under review, cement and clinker sales stood at 12.14 million tonnes against 11.70 MT, it said.
“Energy costs improved by 7 %. The reduction in fuel prices was partially offset by the increase in railway freight. Input prices remained stable, except for the rise in royalty for Limestone and levies under the Mines and Minerals (Development & Regulation) (MMDR) Amendment Act, 2015,” it added.
Ultratech shareholders and creditors have approved the firm’s acquisition of Jaiprakash Associates Ltd’s (JAL) cement units at Bela and Sidhi in Madhya Pradesh, that have a cement capacity of 4.9 million tonnes per annum (MTPA) and a thermal power generation capacity 180 MW TPP, the company said.
