Ultratech Cement, a part of the Aditya Birla Group and division of Grasim Industries, on Monday reported a 11.24 per cent decline in its consolidated net profit at Rs 726 crore during the January-March quarter of 2017-18.
“The India's biggest cement company had posted consolidated net profit of Rs 818 crore in the corresponding quarter of previous fiscal, said Ultratech Cement in a filing to Bombay Stock Exchange.
The consolidated net sales rose by 2.59 per cent to Rs 6,922 crore in Q4 FY17 from Rs 6,747 crore in Q4 FY16.
On the standalone basis, the company has posted net profit of Rs 688 crore as against net sales of Rs 6,500 crore for the fourth quarter ended March 31, 2017.
In a separate release, the company’s board has recommended a dividend of 100 per cent, at the rate of Rs 10 per share of the face value of Rs 10 each aggregating Rs 274.51 crore. The company will absorb the corporate tax on dividend amounting to Rs 55.88 crores, resulting in a total payout of Rs 330.39 crore.
During the quarter under review, the company’s domestic gray cement sales stood at 13.35 MnT, while white cement and wall care putty recorded sales of 3.86 LmT.
Meanwhile, shares of company closed day’s trade at Rs 4144.35 apiece, up 4.42 per cent, on the BSE.