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UltraTech Cement Q2 profit jumps to Rs 579 crore, board approves capex of Rs 940 crore

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Mumbai (Maharashtra) [India], Oct 22 : Aditya Birla-led UltraTech Cement on Monday reported a consolidated profit after tax of Rs 579 crore during the July to September quarter of current financial year, up from Rs 356 crore in the same period of previous fiscal. While net sales totalled Rs 9,491 crore compared to Rs 9,088 crore in Q2 FY19, the profit before interest, depreciation and tax was Rs 2,072 crore vis-a-vis Rs 1,564 crore. During the quarter, UltraTech completed the acquisition of Century Cement by allotting 13.96 crore equity shares of Rs 10 each to shareholders on October 14. This makes UltraTech the third largest cement company in the world outside of China. It is also the only company to have a capacity of over 100 million tonnes in a single company. Its manufacturing capacity stands at 117.4 million tonnes per annum. In June 2017, the company had acquired 21.2 million tonnes capacity from Jaiprakash Associates. “On the basis of positive demand seen in north I