Ultratech Cement net profit rises to Rs 4911cr

Mumbai, Apr 21: Aditya Birla Group-promoted Ultratech Cement registered a net profit of Rs 4,911 crore for the financial year 2007 (FY07) as against Rs 3299 crore in FY06.

The Company also achieved an export of 3.46 million metric tonnes (MMT) in FY07 from 2.57 MMT achieved last year.

The Board of Directors, which met today, also declared an interim dividend of 40 per cent.

Ultratech produced 14.22 MMT of clinker as against 13.36 MMT last year. The production of cement during FY07 rose to 14.63 MMT from 13.70 MMT in the previous year.

The aggregate sales volume for FY07 stood at 17.67 MMT, up by 13 per cent from the past year's volume of 15.70 MMT.

The Company's domestic production, which constitutes around 80 per cent of the aggregate sales, rose to 14.20 MMT from 13.12 MMT in FY06.

The Board, while announcing its annual results, predicted a nine per cent growth in product demand in coming years, while the scarcity and rising prices of quality coal was spotted as an area of concern.

UNI