UltraTech Cement has posted a 14% rise in its standalone net profit for the first quarter of fiscal 2013. The company?s net profit stood at R778 crore compared to R683 crore in the corresponding quarter last year.
The company?s net revenues rose 17% to R5,074.7 crore compared to R4,351.5 crore in the corresponding quarter last year. The company?s earnings per share stood at R28.40 against R24.90 in the corresponding quarter last year.
Combined domestic and clinker sales for the company stood at 9.94 million tonnes (mt) and 2.25 mt for white cement and wall care putty during the quarter. The variable cost rose by 10% as compared to last year?s Q1 on account of higher energy and raw material prices.
The company?s board has sanctioned a capex of R1,000 crore towards modernisation and setting up of ready-mix concrete plants across the country. The company?s total capex under implementation is around R12,000 crore.
The company expects cement demand to grow over 8% linked to government?s focus on infrastructure development. The UltraTech Cement stock closed 0.52% down at R1,566.95 on the Bombay Stock Exchange on Friday.
