UltraTech Cement Limited, an Aditya Birla Group Company, today announced its unaudited financial results for the quarter ended 31st December, 2016.

Financials

Net Sales stood at Rs. 5,927 crores as compared to Rs. 6,013 crores in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax was Rs. 1,280 crores as compared to Rs.1,274 crores in the corresponding period of the previous year. Profit after Tax was up 5%, from Rs. 567 crores in Q3FY16 to Rs. 594 crores in Q3FY17.

On a standalone basis Net Sales stood at Rs. 5,540 crores as compared to Rs. 5,652 crores in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax was Rs.1,210 crores as compared to Rs. 1,204 crores in Q3FY16.

The figures for the quarter ended 31st December, 2015 have been restated as per IndAS.

Greenfield expansion

The Board of Directors have approved the setting up of a 3.5 mtpa integrated cement plant at Dhar, Madhya Pradesh at a total cost of around Rs. 2,600 crores. Commercial production from the plant is expected to commence by Q4FY19. This plant will help in reduction of lead distance and cater to the markets of south-west Madhya Pradesh, where the Company is not a significant player.

With this expansion and the acquisition of the cement plants of Jaiprakash Associates Limited, the Company’s cement capacity will stand augmented to 95 mtpa including its overseas operations.

Outlook

Continuing government spending on infrastructure, development of smart cities, interest rate cuts supported by interest subsidy schemes for housing will be the key demand drivers.