ULTRATECH CEMENT LTD. - Announces Q1 Results, Results Press Release and Limited Review Report for June 30, 2014
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| 19 Jul 2014 | |
| UltraTech Cement Ltd has announced the following results for the quarter ended June 30, 2014:<br/><br/>The Standalone Unaudited results for the Quarter ended June 30, 2014<br/><br/>The Company has posted a net profit of Rs. 6255.70 million for the quarter ended June 30, 2014 where as the same was at Rs. 6726.00 million for the quarter ended June 30, 2013. Total Income is Rs. 59052.00 million for the quarter ended June 30, 2014 where as the same was at Rs. 51476.40 million for the quarter ended June 30, 2013.<br/><br/>"Upon the Scheme of Arrangement between Jaypee Cement Corporation Limited (JCCL) and the Company and their respective shareholders and creditors ("the Scheme") been approved by shareholders and creditors of the respective companies, the Hon'ble High Court at Bombay and the Hon'ble 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.<br/><br/>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."<br/><br/>The Consolidated Results are as follows:<br/><br/>The Unaudited results for the Quarter ended June 30, 2014<br/><br/>The Group has posted a net profit after taxes and minority interest of Rs. 6269.20 million for the quarter ended June 30, 2014 where as the same was at Rs. 6662.30 million for the quarter ended June 30, 2013. Total Income is Rs. 62473.30 million for the quarter ended June 30, 2014 where as the same was at Rs. 54487.00 million for the quarter ended June 30, 2013.<br/><br/>"Upon the Scheme of Arrangement between Jaypee Cement Corporation Limited (JCCL) and the Company and their respective shareholders and creditors ("the Scheme") been approved by shareholders and creditors of the respective companies, the Hon'ble High Court at Bombay and the Hon'ble 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.<br/><br/>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." | |
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