Ultratech Cement Q3 net profit up 4.76%

 Aditya Birla controlled group company Ultratech Cement has posted a 4.76% rise in consolidated net profit for the quarter ended December 31, 2016, at Rs 594 crore compared to Rs 567 crore in the same period last year.

Net sales for the company on a consolidated basis, however, declined 1.43% to Rs 5,927 crore compared to Rs 6,013 crore in Q3FY16, Ultratech said.

The board of directors have approved the setting up of a 3.5 mtpa integrated cement plant at Dhar, Madhya Pradesh at a total cost of around Rs 2,600 crore.

Commercial production from the plant is expected to commence by Q4FY19.
This plant will help in reduction of lead distance and cater to the markets of south-west Madhya Pradesh, where the company is not a significant player, the company said.

With this expansion and the acquisition of the cement plants of Jaiprakash Associates, the company’s cement capacity will stand augmented to 95 mtpa (million tonnes per annum) including its overseas operations, Ultratech added.