The Hindu Business Line : UltraTech Q4 net jumps 76% on higher sales

Mumbai April 21 UltraTech Cement said its fourth-quarter net profit rose 76 per cent, driven by higher sales, better realisation and a bigger share of blended cement.

Its net profit for the quarter ended March 31, 2007 was reported at Rs 232 crore, up from Rs 132 crore in the same quarter a year ago.

Net revenues rose 38 per cent, to Rs 1,466 crore (Rs 1,060 crore) as aggregate sales volumes rose 9 per cent, to 5.04 million tonnes. Capacity utilisation was 113 per cent (102 per cent).

For fiscal 2007, the company's net profit, at Rs 782 crore, was two-and-a-half times higher, against Rs 229.8 crore a year ago.

Net sales at Rs 4,910 crore (Rs 3,299.5 crore) grew 49 per cent as aggregate sales volumes rose 13 per cent, to 17.67 million tonnes. Effective capacity utilisation was 101 per cent for the year (88 per cent).

Other income too was higher, at Rs 61.5 crore (Rs 37 crore)

Blended cement

The share of blended cement in the domestic market, which accounts for 80 per cent of sales volumes, rose to 60 per cent, from 51 per cent, helping plump-up margins.

Variable costs increased by 7 per cent in the year, and by 11 per cent quarterly. Interest costs for the year were lower, at Rs 87 crore (Rs 90 crore).

Against a background of rising prices and difficulty in the availability of quality coal, and the addition of new capacities that may lead to a surplus scenario in FY '09, the company's focus will be on sustaining plant performance, improving service standard and timely commissioning of projects, it said.

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