Ultratech Cement on April 28 reported a net consolidated profit of Rs 1,665.95 crore for the March quarter of the financial year 2022-23, registering a decline of 32.29 percent from Rs 2,460.51 crore recorded in the same quarter of the previous fiscal.
The numbers fell because of much higher tax outgo for the quarter against credit in the corresponding quarter last fiscal.
Revenue from operations came in at Rs 18,662.38 crore, up 18.36 percent from Rs 15,767.28 crore in the year-ago quarter, the company said in a regulatory filing.
UltraTech said it achieved 100 million tonnes of production, dispatches and sales in FY23. This was backed by an effective capacity utilisation of 95 percent during this quarter and 84 percent capacity utilisation for the year.
Volume growth was 15 percent.
The company saw an increase in energy cost by 17 percent YoY and 4 percent lower QoQ. Prices of pet coke and coal increased 18 percent YoY. Raw material cost was up 9 percent YoY on account of the increase in the cost of fly ash, slag and gypsum etc.
The Board of Directors at their meeting held today have recommended a dividend at the rate of Rs. 38 per equity share.
UltraTech's expansion programme is progressing as per schedule, it said in a release. During the year, the company commissioned 12.4 mtpa (million tonne per annum) additional capacity of grey cement. It has further commissioned a 2.2 mtpa brownfield cement capacity at Patliputra in April 2023.
Work on its next phase of growth of 22.6 mtpa has already commenced, it said. Civil work is in full swing at most sites. Commercial production from these new capacities is expected to go on stream in a phased manner by FY25/FY26. Upon completion of these expansions, the company's capacity will grow to 160.45 mtpa, reinforcing its position as the third largest cement company in the world, outside of China and the largest in India by far.
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