UltraTech Cement profit for the quarter ended June 30,2018, fell 32.9% YoY to Rs.598.39 crore.
Revenue from operations rose by 30.6% to Rs.8,655 crore, while in same period last fiscal it was Rs.6,626.45 crore. Sales volume in Q1 jumped 34% to 16.8 million tonnes YoY. EBITDA increased 4% to Rs.1,623.8 crore, but margin contracted 474 basis points to 18.8%.
Further, the company’s board has approved a scheme of arrangement amongst Century Textiles and Industries, the company and their respective shareholders and creditors. Century will demerge its cement business into the company. As per the scheme, UltraTech will issue 1 equity share for every 8 equity shares of Century, to the shareholders of Century.