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Cost pressure on UltraTech

Mumbai, Jan. 19: UltraTech Cement’s third-quarter net profit dipped marginally to Rs 601 crore from Rs 617 crore in the same quarter last fiscal, on account of higher raw material and logistics costs.

Net sales of the company, however, increased to Rs 4,857 crore in the third quarter compared with Rs 4,565 crore in the same period in 2011-12, Unitech said in a statement today.

“On the cost front, year-on-year, raw materials and logistics costs were mainly impacted because of the increase in railway freight and hike in diesel prices,” it said.

Total expenses of the company rose to Rs 4,072 crore from Rs 3,833 crore a year ago.

The company’s ongoing expansion plans for setting up clinker plants at Chhattisgarh and Karnataka were on track.

“These projects are expected to be operational by early FY14. They will augment the cement capacity by 9.2 million tonnes per annum (mtpa) bringing it to 62 mtpa,” it added.

Backed by some positive economic sentiments, the long-term demand of cement was likely to see eight per cent growth, the company said.

 
 
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