UltraTech Cement’s fourth quarter profit at ₹446.13 cr
Aditya Birla Group firm UltraTech Cement on Wednesday reported a consolidated net profit of ₹446.13 crore for the fourth quarter ended on March 31, 2018.
The company had posted a net profit of ₹726.09 crore in the January-March quarter a year ago, UltraTech Cement said in a BSE filing.
UltraTech’s net sales were at ₹9,420.76 crore during the quarter under review against ₹7,923.80 crore in the corresponding period of the previous fiscal.
“During Q4FY 2017-18, the company recorded a robust growth of 31% in volumes with a 5% increase in realisation,” UltraTech Cement said in a statement.
It further added: “The quarter continued to witness increase in input costs attributable to rise in pet coke and coal prices and the ban on pet coke usages. Regardless, the company registered a 19% PBIDT growth (profit before interest, depreciation and tax)
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during the quarter and a 15% PBIDT growth for the year.”
The company informed that its results were not comparable as these include results of assets acquired from Jaiprakash Associates Limited and Jaypee Cement.
“The results include the financial results for the cement plants acquired from Jaiprakash Associates Limited and Jaypee Cement Corporation Limited on June 29, 2017 and hence the figures for the three months and year ended March 31, 2018, are not comparable with the previous corresponding periods,” it said.
For the financial year 2017-18 ended on March 31, 2018 UltraTech Cement’s net profit was at ₹2,224.46 crore against ₹2,713.51 crore in FY 2016-17. Its net sales were at ₹32,304.63 crore in FY 2017-18 against ₹28,645.93 crore in the previous fiscal.
Meanwhile, in a separate filing UltraTech Cement informed BSE its board has recommended a dividend of ₹10.50 per equity share of ₹10 each for the year ended March 31, 2018.
Indian ride-hailing firm Jugnoo plans to enter the Singapore market next month, its chief executive said on Wednesday, joining other companies eyeing the city state as Uber Technologies prepares to leave.
Uber’s app will continue to operate in Singapore until May 7, although the US company has shut down in the rest of Southeast Asia after selling its regional operations to local competitor Grab.
Jugnoo and other ride-hailing companies are looking to fill the gap left by Uber, which analysts say may help ease regulatory concerns about the sale to Grab.
The Competition and Consumer Commission of Singapore (CCCS) outlined this month a set of measures to ensure an open market while the watchdog examined their merger.
Jugnoo, which uses auto-rickshaws in India, will offer a private car-based service in Singapore with an app that will allow riders to choose from drivers’ competing bids on fares.
Drivers will not have to pay commission to Jugnoo for the first six months, the company has said.
After that, Jugnoo will take a 10% commission, which it hopes will lure drivers when compared to Grab’s commission of up to 20%.
Customers will pay a convenience charge, or a small booking fee, after the first six months of the service.
“We are hoping that even if we are able to get a 10% market share in a year, we will be a profitable company (in Singapore),” Samar Singla, Jugnoo’s CEO said on Wednesday.
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