Team Moneycontrol
April 29, 2024 / 15:40 IST
UltraTech's consolidated net sales at Rs 20,069 crore recorded a growth of nine percent versus Rs 18,436 crore in the corresponding period of the previous year
UltraTech Cement posted a 35 percent surge in net profit in the fourth quarter of FY24, beating estimates, on the back of robust demand for the building materials and lower operating costs.
Profit climbed to Rs 2,258.58 crore in the three months ended March 31 from Rs 1,670.10 crore a year earlier, the company said on April 29, beating estimates of Rs 1,976.58 crore.
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Here are the key highlights from the fourth quarter and full year results of UltraTech cement:
Q4 and FY24 numbers:
- Consolidated net sales at Rs 20,069 crore recorded a growth of nine percent versus Rs 18,436 crore in the corresponding period of the previous year
- Profit after tax was Rs 2,258 crore compared to a profit Rs 1,666 crore in the corresponding period of the previous year, registering a rise of 36 percent.
- FY24 consolidated net sales was up 12 percent at Rs 69,810 crore from Rs. 62,338 crore last year. FY24 profit after tax was Rs 7,005 crore, a jump of 38 percent as compared to Rs 5,064 crore in FY23.
Costs- Coal and petcoke (fuel) prices witnessed a drop during FY24. The Company's imported fuel consumption cost during Q4FY24 was 13 percent lower than Q4FY23 and it remained flat QoQ.
- Logistics costs, which comprises 32 percent of the company's total costs, declined 2 percent YOY and flat QOQ. Fuel costs, second highest expense, declined 21 percent decline YOY and 3 percent QOQ.
Capacity Additions:- Major orders have already been placed to key technology suppliers and civil work has also commenced at some locations, related to 3rd phase of growth announced in October 2023.
- During the year, UltraTech added 13.27 mtpa grey cement capacity across locations.
- Commissioned greenfield cement capacities at Karur, Tamil Nadu and Kukurdih, Chhattisgarh of 2. 7 mtpa each, aggregating to 5.4 mtpa in April, 2024.
Sustainability- During the quarter, UltraTech commissioned additional 156 MW of solar power, taking its capacity to 612 MW in addition to Waste Heat Recovery Systems of 278 MW.
- UltraTech completed a 100 MW solar energy project under the Group Captive scheme in the state of Rajasthan.
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