India’s largest cement manufacturer UltraTech Cement, an Aditya Birla Group company, has reported a 27 per cent drop in its fourth quarter standalone net profit due to additional provisioning and rise in input cost.
For the fourth quarter ended 31 March, 2015, the company reported a net profit of Rs.615 crore against Rs.838 crore, which included previous year’s tax provision reversal of Rs.96 crore. The January-March quarter net profit included additional provision of Rs.50 crore for deferred tax, due to increase in surcharge on income-tax.
During the quarter, net sales stood at Rs.6,135 crore against Rs.5,832 crore in the same period last year.
On a consolidated basis, the net profit stood at Rs.657 crore on sales income of Rs.6,518 crore.
The combined cement and clinker sale of grey cement (for Indian operations) was lower at 11.81 million tonnes as compared to 12.18 million tonnes in the same period last year, while for white cement and wall care putty, it was 3.52 lakh tonnes as against 3.28 lakh tonnes.
For the year ended March 31, 2015, the company reported a six per cent drop in its net profit at Rs.2,015 crore against Rs.2,144 crore in the previous year.Net sales were higher by 13 per cent at Rs.22,656 crore against Rs/20,078 crore.
On a consolidated basis, the net profit stood at Rs.2,102 crore on sales income of Rs.24,065 crore.
The combined cement and clinker sales of grey cement (for Indian operations) was 44.85 million tonnes against 41.47 million tonnes, while for white cement and wall care putty, it was 12.25 lakh tonnes against 11.41 lakh tonnes in the previous year.
The board of directors has recommended a dividend of Rs.9 per share (90 per cent) aggregating Rs. 246.96 crore.