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Our Bureau

Mumbai, April 22 Despite rising input and freight cost, Aditya Birla Group company Ultratech Cement has posted 22 per cent rise in net profit at Rs 283 crore for the quarter ended March 31, 2008, against Rs 232 crore logged in the corresponding period last year.

Total income increased by 10 per cent to Rs 1,629 crore (Rs 1,485 crore) in the fourth quarter under review.

The company has announced a dividend of Rs 5 per equity share of Rs 10 each for the year ended March 31, 2008.

Continuous Government intervention has resulted in uncertain price environment, which together with significant increase in input costs will have an adverse impact on margins in 2009, the company said in a release.

The Government recently imposed a ban on cement export to check rising prices and control inflation. UltraTech along with Ambuja Cements accounts for 58 per cent of 3.3 million tonnes of clinker and cement exports.

For the year ended March 31, 2008, UltraTech recorded 29 per cent jump in net profit at Rs 1,008 crore against Rs 782 crore in the same period last year. Total income rose 11 per cent to Rs 5,609 crore ( Rs 4,972 crore).

Ultratech said during the full-year period, variable cost increased by 8.47 per cent to Rs 3,689 crore (Rs 3,493 crore) due to an escalation in the cost of raw materials, including imported coal and mounting freight charges.

On a consolidated basis, the group’s net profit for the financial year 2007-08 stood higher by 29 per cent at Rs 1,010 crore (Rs 785 crore). Total income increased 14 per cent to Rs 5,724 crore (Rs 5,028 crore).

More Stories on : Financial Performance | Cement

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