Comments
UltraTech Cement, an Aditya Birla Group company, plans to invest ₹2,600 crore in setting up a 3.5 million tonnes per annum integrated cement plant at Dhar, Madhya Pradesh.
Commercial production of the new plant is expected to start in the fourth quarter of FY19. The plant will help reduce lead distance and cater to the markets of south-west Madhya Pradesh, where the company is not a significant player, UltraTech said.
The company has reported a 5 per cent increase in its net profit for the October-December quarter to ₹594 crore (compared to ₹567 crore in the corresponding quarter last year) despite a fall in sales. Net sales were down 1 per cent at ₹5,927 crore (₹6,013 crore). Sales volume declined 2 per cent to 11 million tonnes during the quarter. Overall expenses reduced 2 per cent to ₹5,915 crore (₹6,021 crore).
UltraTech faced multiple challenges including low demand, rising cost and falling prices. The industry capacity utilisation dipped to 60 per cent, it said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.