UltraTech Cement reported its quarterly financial result with a consolidated net profit decline of 14% to Rs. 390.43 crores as compared to Rs. 456.66 crores during the October-December quarter of the last financial year. The profit was mainly hit due to higher crude prices and a weaker rupee.

The Aditya-Birla group company registered total revenue of Rs. 9,492.94 crores during the quarter under review as against Rs. 8,056.54 crores in the corresponding quarter in the previous fiscal year. UltraTech Cement in a statement said, “Domestic sales volume jumped 15 per cent over Q3FY18.”

UltraTech cement added that the higher fuel and energy costs, coupled with rupee depreciation resulted in costs increasing by 11 per cent over Q3FY18. In addition to that, the acquisition of UNCL resulted in elevated interest costs due to the loans raised. UltraTech’s reported the total expenses at Rs. 8,916.44 crores.

UltraTech cement stated that the result also includes cement plants of Jaiprakash Associates and Jaypee Cement Corp. Hence, the figure for nine months is not comparable. The company said, “With the additional capacities acquired by the company through the organic and inorganic route and its rapid ramp-up, UltraTech is very well placed to participate in the growth of the economy.”

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