UltraTech Cement’s 9% net profit rise for year

India-based 6846 UltraTech Cement has achieved an 11% year-on-year increase in net profit for the quarter, which ended March, 2016, during which it has collected INR 6.81 billion (€90.94 million/US$102.16 million) against the year-ago INR 6.15 billion.

On a full-year basis, the company's net profit amounted to INR 22.87 billion by the end of March 2016 following a 9% year-on-year rise. The quarter and the year under review saw net sales grew 5% to INR 64.36 billion and 5% to INR 252.81 billion respectively.

Still for the year under review, operating profit rose 7% to INR 51.09 billion.

Looking forward, UltraTech Cement anticipates that demand for cement will grow approximately 8% in 2017 in view of the healthy infrastructure, smart city, and housing developments currently being carried out by the government.

The cement company, which is the subsidiary of Aditya Birla Group, has cited lower raw material costs as what have strengthened its latest bottom line.