Mumbai, Jan 20 (IANS) Aditya Birla Group company UltraTech Cement on Wednesday reported a staggering rise of 36 percent in its consolidated net profit for the third quarter (Q3) of the current 2015-16 fiscal.
According to the company, its profit after tax soared to Rs.546 crore from Rs.400 crore in the like period of last fiscal.
The company’s net sales grew by five percent at Rs.6,108 crore vis-a-vis Rs.5,832 crore in the corresponding period of the previous year.
On a standalone basis, the company’s net profit rocketed by 39.83 percent at Rs.509 crore from Rs.364 crore earned during the like period of last fiscal.
The net sales during the quarter under review rose by 4.71 percent at Rs.5,747 crore as compared to Rs.5,488 crore in the corresponding period of the previous year.
In its outlook the company noted that the demand for cement is expected to pick up in the near term.
“The governments’ focus on infrastructure development, housing sector, smart cities, roads etc., augurs well for UltraTech,” the company said in a statement.
“The Company is confident of meeting the upsurge in demand and participating proactively in the next phase of growth in the country.”