UltraTech Cement has reported results for first quarter ended June 30, 2014.
The company’s net profit for the quarter declined by 6.99% at Rs 625.57 crore as compared to Rs 672.60 crore for the quarter ended June 30, 2013. However,its total income has increased by 14.72% to Rs 5905.20 crore for the quarter under review from Rs 5147.64 crore for the corresponding quarter of the previous year.
On the consolidated basis, the company has reported 5.90% fall in its net profit at Rs 626.92 crore for the quarter as compared to Rs 666.23 crore for the same quarter in the previous year. however, total income has increased by 14.66% at Rs 6247.33 crore for quarter under review as compared to Rs 5448.70 crore for the quarter ended June 30, 2013.
Upon the Scheme of Arrangement between Jaypee Cement Corporation (JCCL) and the Company and their respective shareholders and creditors been approved by shareholders and creditors of the respective companies, the High Court at Bombay & the High Court at Allahabad and also by the Securities Exchange Board of India (SEBI), the Scheme was made effective from June 12, 2014. In terms of the Scheme, 114,382 equity shares of the company of Rs 10 each, fully paid-up, have been allotted to the equity and preference shareholders of JCCL towards consideration, pending finalisation of closing Balance Sheet.
The financial results of the acquired Units have been combined with the Company's financial results with effect from June 12, 2014. As a result, figures for the three months ended June 30, 2014 are strictly not comparable with previous periods.
| Company Name | CMP |
|---|---|
| Ultratech Cement | 12137.00 |
| Ambuja Cement | 441.60 |
| ACC | 1400.20 |
| Shree Cement | 25130.00 |
| Dalmia Bharat | 1927.00 |
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