UltraTech Cement Ltd. on Thursday reported a 68.75% leap in consolidated net profit at ₹1,280.38 crore within the second quarter ended September 30, 2023, led by a robust volume progress.
The firm had posted a consolidated net profit of ₹758.7 crore within the July-September quarter final fiscal, UltraTech mentioned in a regulatory submitting.
Revenue from operation was up 15.25% at ₹16,012.13 crore throughout the interval underneath evaluation as in opposition to ₹13,892.69 crore within the year-earlier interval, it added.
“The company continues to deliver strong growth quarter after quarter, achieving a 16% volume growth in the quarter,” mentioned an earnings assertion from the Aditya Birla Group agency.
During the quarter, UltraTech witnessed demand from all sectors, fuelled by government-led infrastructure, rural improvement and concrete residential demand.
UltraTech’s “rural sales were at 63% of trade, grew at 15% for the quarter,” it added.
Its consolidated sales volume within the September quarter was 26.69 million tonnes.
Total bills within the second quarter had been greater at ₹14,493.01 crore, as in contrast to ₹12,934.27 crore within the corresponding interval final fiscal, the corporate mentioned.
During the reporting quarter, vitality value was decrease by 10% YoY, whereas uncooked materials value rose 4% on account of a rise in the price of fly ash and slag.
UltraTech mentioned it achieved capability utilisation of 75 per cent throughout the quarter on expanded capability.
While updating the continued growth programme, UltraTech mentioned it’s progressing as per schedule.
“5.5 MTPA (million tones per annum) capacity has already been commissioned during this financial year following a 12.4 MTPA capacity addition during FY23,” it mentioned.
UltraTech Cement’s complete gray cement manufacturing capability in India now stands at 132.45 MTPA.
“Work on the second phase of growth of 22.6 MTPA is in full swing. As part of this project, we are adding another 1.8 MTPA of slag grinding capacity taking total of phase 2 to 24.4 MTPA,” mentioned UltraTech, including, “commercial production from all these new capacities is expected to go on stream in a phased manner by FY25/FY26.” The firm mentioned its on-going growth programme is progressing as per schedule with 5.5 MTPA capability already being commissioned throughout this monetary yr following a 12.4 MTPA capability addition throughout FY23.
Over the outlook, UltraTech mentioned demand revival is imminent, particularly throughout the festive season and the January-March peak building interval.
“Demand will also be led by pre-election spending, continued government push on infrastructure development, and sustained real estate development. All of this augur well for the company,” it mentioned.
Shares of UltraTech Cement Ltd. on Thursday settled 2.83% greater at ₹8,514.80 apiece on the BSE.
