Oct. 19: Aditya Birla Group firm UltraTech Cement today reported a 52 per cent dip in net profit for the July-September quarter at Rs 264 crore on account of lower selling price of the building material amid subdued demand.
The largest cement maker in the country had clocked a profit of Rs 550 crore in the July-September quarter of the last fiscal, it said in a statement.
“The results of the quarter have been impacted mainly on account of lower selling price and subdued demand. Cement demand remained sluggish on account of prolonged monsoon and low offtake from infrastructure and housing sectors,” it said.
Net sales fell to Rs 4,502 crore from Rs 4,699 crore in the same quarter of the previous year. UltraTech sold 9.1 million tonnes of cement and clinker during the quarter.
Total expenditure rose to Rs 4,100 crore from Rs 3,927 crore a year ago.
“The benefit of softening in prices of imported coal was negated by the depreciation of the rupee. Logistics and raw material costs continued to rise given the high diesel prices. However, optimisation of the fuel mix helped in curbing power and fuel cost to some extent,” it said.
UltraTech said demand for cement might grow 5 per cent during the current fiscal. However, in the long run, demand is likely to grow by over 8 per cent.
“The key demand drivers will continue to be housing and infrastructure spends,” it said.
Drug firm Unichem Laboratories has reported a 3.22 per cent rise in net profit at Rs 36.2 crore for the quarter ended September 30 as sales rose.
The company had posted a profit of Rs 35.07 crore in the year-ago period, Unichem said in a filing to the BSE.
Total income climbed to Rs 269.57 crore from Rs 264.24 crore a year earlier.
Formulations constitute the core business of the company, which also manufactures active pharmaceutical ingredients (APIs or bulk actives).