Ultratech Q1 net profit rises 14.9% to Rs890 crore
New Delhi: Ultratech Cement Ltd on Tuesday reported a 14.9% jump in standalone net profit to Rs890.6 crore in the quarter ended June 2017, as compared to the same quarter last year on the back of a 13.7% rise in revenue and a 70 basis points (bps) expansion in earnings before interest, taxes, depreciation and amortization (Ebitda) margin to 23.5%.
One basis point is one-hundredth of a percentage point. The Aditya Birla Group company said total revenue, including excise duty, during the quarter stood at Rs7,520.3 crore.
The expansion of Ultratech’s Ebitda margin was due to lower freight and forwarding expenses, which were lower by 65bps and other expenses, which were lower by 40bps.
Ultratech said it has completed the acquisition of Jaiprakash Associates Ltd’s and Jaypee Cement Corp. Ltd’s cement plants that has resulted it its capacity rising to 93 million metric tonnes per annum (MTPA).
“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,” the company said in a statement.
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