UltraTech announces un-audited financial results for quarter ending 30 September 2013

Mumbai: UltraTech Cement Limited, an Aditya Birla Group company, today announced its un-audited financial results for the quarter ended 30 September 2013.

Financials
Net sales stood at Rs.4,502 crore as compared to Rs.4,699 crore in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax (PBIDT) is Rs.717crore and Profit after Tax (PAT) is Rs.264 crore vis-a-vis Rs.1,076 crore and Rs.550 crore respectively, in the corresponding period of the previous year.

The combined domestic cement and clinker sales was 9.1MnT (9.1MnT) while it was 2.75LmT (2.39 LmT) for white cement and wall care putty.

The results for the quarter have been impacted mainly on account of lower selling prices and subdued demand. Cement demand remained sluggish on account of prolonged monsoon and low off take from the infrastructure and housing sectors.

The benefit of softening in prices of imported coal was negated by the devaluation of the rupee. Logistics and raw material costs continued to rise given the high diesel prices. However, optimisation of the fuel mix helped in curbing power and fuel cost to some extent.

Capex
The company's capex plans are progressing on schedule. During the quarter, the company commissioned a 25MW TPP at Rajashree Cement in Karnataka. Its 1.6 mtpa cement mill at Jharsuguda in Odisha went on stream in October 2013.

Outlook
The outlook continues to remain challenging. Demand growth in FY14 is likely to be around 5 per cent, though in the long term growth is likely to be over 8 per cent. The key demand drivers will continue be housing and infrastructure spends.