UltraTech Cement, the largest manufacturer of grey cement, Ready Mix Concrete (RMC) and white cement in India, is reportedly planning to raise $1.2 billion to fund the takeover of Holcim's Brazilian assets, which the Swiss firm is selling to meet the regulatory requirements for a merger with Lafarge. The company has made a non-binding offer to take over Holcim's Brazilian assets.
The company has registered 55.26% rise in its net profit at Rs 410.05 crore for the quarter under review as compared to Rs 264.10 crore for the same quarter in the previous year. Total income of the company has increased 20.67% at Rs 5503.48 crore for Q2FY15 as compared Rs 4560.79 crore for the corresponding quarter previous year.
On consolidated basis, the company’s net profit after taxes and minority interest for the quarter under review registered 48.02% growth at Rs 414.24 crore against Rs 279.86 crore in the September quarter of previous fiscal. The company’s total income has increased by 18.53% at Rs 5821.48 crore for the quarter under review from Rs 4911.40 crore in the similar quarter of previous year.