UltraTech Cement’s Q2 standalone net profit down by over 9%

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Mumbai, Oct 19 (IANS) Aditya Birla Group company UltraTech Cement on Friday reported a decline of 9.37 per cent in its standalone net profit for the second quarter of 2018-19.

According to the company, its Q2 net profit decreased to Rs 390.80 crore from Rs 431.24 crore reported for the corresponding period of the previous financial year.

However, the cement manufacturer’s standalone revenue from operations during the quarter under review rose to Rs 7,771.27 crore from Rs 6,426.36 crore earned during the like period of the previous fiscal.

On a consolidated basis, the company reported a decline of 11.32 per cent in its net profit for the second quarter of 2018-19.

Its Q2 consolidated net profit decreased to Rs 376 crore from Rs 424 crore reported for the corresponding period of the previous financial year.

However, the cement manufacturer’s net sales during the quarter under review rose to Rs 8,111 crore from Rs 6,752 crore earned during the like period of the previous fiscal.

“Domestic sales volume jumped 21 per cent over Q2FY18,” the cement manufacturer said in a statement.

“However, rising energy and logistics cost coupled with rupee depreciation resulted in costs increasing by 14 per cent as compared to Q2FY18, bringing down profits as compared to the previous year.”

–IANS

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