Ultra Tech posts rise of 22.17% in net profit

UltraTech Cement, the country's second largest cement maker and part
of the Aditya Birla Group, has posted a rise of 22.17 per cent in its
net profit at Rs 282.88 crore for the quarter ended March, 2008
compared with Rs 231.54 crore in the corresponding quarter last year.
Its net sales during the quarter increased to Rs 1,628.69 crore from
Rs 1,484.82 crore, up 9.69 per cent.

For the financial year 2007-08, the company's net profit stood at Rs
1007.61 crore against Rs 782.80 crore in FY07. The net sales during
the year grew to Rs 5,609 crore from Rs 4,971.98 crore.

Higher realisation and robust growth for cement helped the company
come up with good quarterly as well as annual numbers.

In its outlook of the industry, the cement firm said in a statement to
the Bombay Stock Exchange said that the overall demand was expected to
grow by 9 per cent. However, it added that a surplus of demand over
demand on account of  additional capacities of 118 million tonnes
during the current five year plan (2007-12) was expected to have an
impact on domestic cement prices in 2009.

"Continuous government intervention has resulted in uncertain price
environment, which together with significant increase in input costs
will have an adverse impact on margins," the statement added.

On the Bombay Stock Exchange, the company's stocks traded at Rs 803,
up 4 per cent at IST 1431.