UltraTech Cement Limited, an Aditya Birla Group Company, today announced its unaudited financial results for the quarter ended 30th September,2016. The Company has adopted Indian Accounting Standards (IndAS) with effect from 1st April, 2016. The figures for the quarter ended 30th September, 2015 have also been restated as per IndAS.
Net Sales stood at Rs. 5,709 crores as compared to Rs.5,857 crores in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax at Rs.1,378 crores was higher by 16% as compared to Rs.1,186 crores in the corresponding period of the previous year. Profit after Tax rose 25% from Rs.491 crores to Rs.614 crores in Q2FY17.
On a standalone basis Net Sales stood at Rs.5,398 crores as compared to Rs.5,527 crores in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax at Rs.1,327 crores grew 19% as compared to Rs.1,116 crores in Q2FY16 and Profit after Tax jumped 31% from Rs.457 crores in the Q2FY16 to Rs.601 crores in Q2FY17.
Government’s thrust on developing infrastructure spending, good monsoons, development of smart cities leading to growth in housing demand in Tier-I and Tier-II cities, slower pace of new capacity addition augur well for the cement industry. UltraTech is well positioned across the country to meet the expected rise in demand and participate in the next phase of growth in the country.
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