Mumbai (Maharashtra) [India], May 8 (ANI): UltraTech Cement has reported profit after tax of Rs 1,775 crore in the quarter ended March compared to Rs 1,129 crore in Q4 FY20 due to prudent working capital management.
Profit before interest, depreciation and tax was Rs 3,751 crore in Q4 FY21 vis-a-vis Rs 2,645 crore in the corresponding period of previous year, the company said in a statement.
Consolidated net sales totalled Rs 14,232 crore as compared to Rs 10,689 crore in the same period.
For entire fiscal FY21, net sales were at Rs 44,239 crore vis-a-vis Rs 41,781 crore. Profit before interest, depreciation and tax was Rs 12,302 crore in Q4 FY21 as compared to Rs 9,898 crore in Q4 FY20 while profit after tax was Rs 5,463 crore compared to Rs 3,644 crore.
The board of directors has recommended a dividend of 370 per cent at the rate of Rs 37 per equity share with face value of Rs 10 per share aggregating Rs 1,068 crore.
UltraTech said the recovery from Covid-19 led disruption of the economy during FY21 was rapid. The overheads control programme, prudent working capital management and control on cash flows were the main drivers aided by quick revival of demand and supply side restoration.
The company achieved an effective capacity utilisation of 93 per cent during Q4. While rural and semi-urban housing continue to drive growth, pick-up in government-led infrastructure aided incremental cement demand. Pent-up urban demand is also expected to improve.
As part of its commitment to society, UltraTech spent Rs 120 crore towards various initiatives undertaken during the year to support the country in its fight against the pandemic. The company has also undertaken a vaccination programme for more than one lakh employees and their dependents. (ANI)