UltraTech Cement Q3 net dips to R601 crore
Impacted by higher raw material and logistics costs, Ultratech Cement's third-quarter net profit dipped marginally to R601 crore from R617 crore in the same quarter last fiscal. The net sales of the company, however, increased to R4,857 crore in Q3, compared to R4,565 crore in the same period in 2011-12, Unitech said in a statement on Saturday.
“On the cost front, year-on-year, raw materials and logistics cost were mainly impacted due to an increase in railway freight and hike in diesel prices,” it said. “Energy cost, that is, imported coal remained at $100 per tonne levels. The benefit of softening in coal prices was partly offset by the depreciation in rupee,” it added.
The total expenses of the company rose to R4,072 crore from R3,833 crore a year ago. The company’s ongoing capacity expansion plans towards setting up of additional clinkerisation plants in Chhattisgarh and Karnataka were on track. “These projects are expected to be operational by early FY’14. They will augment the company's cement capacity by 9.2 million tonnes per annum (mtpa) bringing it to a total of 62 mtpa,” it added.
Backed by some positive economic sentiments, long-term demand of the building material was likely to see 8% growth, with housing, infrastructure and allied spending being the key value drivers, the company said.
Network18, TV18 in the black
Led by strong performances in broadcasting and digital businesses, Network18 Media and Investments posted a consolidated net profit of R6.84 crore for October-December 2012 period, after many quarters of loss. Its arm, TV18 Broadcast, also turned profitable with a consolidated net profit of R21.3 crore for the reported quarter.
“Both our companies—Network18 and TV18— returned to profitability this quarter. Our recast balance sheets helped rationalise our interest payouts and our television and digital assets turned in strong operational performances,” Network18 managing director Raghav Bahl said. Network18 had registered a net loss of R85.80 crore, while TV18 had a net loss of R53.5 crore in October- December 2011.
The entities had a net loss of R22.57 crore (Network18) and R40.6 crore (TV18) in the previous sequential quarter