Ultratech Cement posts PAT of Rs 2,435 cr in FY19; board declares dividend of Rs 11.50 per share

Ultratech Cement, a part of Aditya Birla Group company, on Wednesday reported a consolidated profit after tax (PAT) at Rs 2,435 crore for the year ended March 31, 2019.

"The company's consolidated PAT stood at Rs 2222 crore in the year-ago period, UltraTech Cement said in a filing to the Bombay Stock Exchange.

Revenue from operations for the fiscal stood at Rs 36,775 crore as compared to Rs 30,541 crore in the previous year.

UltraTech, in the exchange filing, said that its result for the quarter and the financial year ended March 31, 2019, are not comparable with the previous periods due to merger of Binani Cements into the company, which has now been named as UltraTech Nathdwara Cements. The fourth quarter earnings also include results from cement plants acquired from Jaiprakash Associates and Jaypee Cement Corp, the company said.

For January-March quarter, the cement maker's consolidated PAT increased to Rs 1,013 crore versus Rs 446 crore in the same quarter a year ago. The total revenue stood at Rs 10,739 crore from Rs 9,168 crore in the corresponding period previous fiscal. The Mumbai-based company's operating profit (EBITDA) also increased by 30 per cent to Rs 2,459 crore as compared to Rs 1,892 crore in FY18.

During March quarter, domestic sales volume jumped 16 per cent, helped by 100 percent utilisation of clinker capacity and cement grinding facility at Manavar, Madhya Pradesh, Ultratech Cement said. The industry saw a rise in demand and reported a double-digit growth after two years of tepid growth, it added.

In a separate filing, the company informed that its board has recommended a dividend of Rs 11.50 per equity share of Rs 10 each for the year ended March 31, 2019, subject to the shareholders approval.

Boosted by strong Q4, shares of Ultratech Cement closed trade at Rs 4435.45 apiece, up 5.51 per cent, on the Bombay Stock Exchange on Wednesday.

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Edited by Chitranjan Kumar