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Home / Business / UltraTech Cement net up 8 per cent after earnings announcement

UltraTech Cement net up 8 per cent after earnings announcement

The leading cement producer had posted a net profit of Rs 1,584.58 crore in the October-December quarter a year ago
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PTI   |   New Delhi   |   Published 18.01.22, 02:54 AM

Aditya Birla group firm UltraTech Cement on Monday reported a 7.92 increase in its consolidated net profit at Rs 1,710.14 crore in the third quarter ended December 2021 as trade sales were impacted and overall cement demand remained subdued during the period.

The leading cement producer had posted a net profit of Rs 1,584.58 crore in the October-December quarter a year ago.

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Revenue from operations rose by 5.89 per cent to Rs 12,984.93 crore during the quarter under review compared with Rs 12,262 crore in the corresponding period of the last fiscal, the company said in a BSE filing.

UltraTech Cement’s total expenses were at Rs 11,422.05 crore, up 12.09 per cent in Q3FY 2021-22 against Rs 10,190.03 crore in the year-ago period.

“After gaining pace in October 2021, demand slowed down substantially in November 2021 as a result of the construction ban in the NCR, extended monsoons in the south and a few states in the north, sand issues in the eastern region as well as in parts of Uttar Pradesh, and the Diwali holiday season,” the Aditya Birla Group firm said in a post earning statement.

During the quarter, UltraTech’s consolidated sales were at 23.13 million metric tons, down by 3 per cent year-on-year.

“The company has yet been able to maintain a strong growth trajectory, recording a 13.2 per cent growth in its domestic cement sales volumes in the nine months ended December 2021, despite marginal degrowth in the reported quarter,” it said.

UltraTech Cement said prices of coal and pet coke has started softening during this quarter, though the prevailing rates are still at elevated levels YoY. Diesel prices are up 24 per cent YoY despite the recent reduction in duty/other levies by the central and various state governments.



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