By: Financial Express
Cement major Ultratech reported sales of Rs 5,490 crore for the third quarter ended December 31, up 15 per cent year-on-year. Profit before interest, depreciation and tax stood at Rs 990 crore compared to Rs 864 crore in the year-ago period.
Despite rising raw material and logistical costs, Ultratech Cement said the “on-going cost control measures” and a year-on-year increase of 11.3 per cent in volumes helped improve cost-efficiency. Blended realisations improved from Rs 46.61 crore/tonne in Q3 FY14 to Rs 48.05 crore/tonne in Q3 FY15.
Meanwhile, UltraTech Cement, part of the Aditya Birla Group, announced that the company will issue Rs 4,538 crore of non-convertible debentures and non-convertible preference shares worth Rs 10 lakh to Jaiprakash Associates in exchange for the two Madhya Pradesh cement units it acquired from the latter in December.