New Delhi: Aditya Birla Group firm UltraTech Cement today reported a 15.14 per cent increase in the consolidated net profit at Rs 897.91 crore for the first quarter ended June 30.
The company had posted Rs 779.83 crore net profit in the same period of the previous fiscal, UltraTech Cement said in a BSE filing. The result of the first quarter includes the cement plants of Jaiprakash Associates Ltd (JAL) and Jaypee Cement Corporation Ltd (JCCL), which it had acquired this year.
This quarter also witnessed increasing cost trends, primarily attributable to energy and logistics cost on accounts of increase in fuel price, UltraTech Cement said. On the outlook, the company said: "Government spending on infrastructure, rural and affordable housing will be the key demand drivers. UltraTech is well positioned across the country to cater to the demand."
Total income from operations during the quarter under review stood at Rs 8,094.50 crore as against Rs 7,603.35 crore in the year ago period, up 6.45 per cent.
"The results include those of the cement plants of JAL and JCCL acquired in terms of a scheme of arrangement which came effective from June 29, 2017", the company said.
The company acquired cement plants of Jaiprakash Associates Ltd and Jaypee Cement Corporation in Madhya Pradesh, Uttar Pradesh, Uttarakhand, Himachal Pradesh and Andhra Pradesh with a capacity of 21.2 million tonnes.
With the acquisition of the Jaypee group assets, the cement capacity of the company stands at 93 million tonnes per annum, Ultratech Cement said. Shares of the company today closed 0.74 per cent lower at Rs 4,354.90 apiece on BSE.
