Last Update: April 28, 2023, 6:24 pm IST
For the financial year ending March 2023, UltraTech’s net profit is down 30.82 per cent to Rs 5,073.40 crore. It was Rs 7,334.26 crore in FY22.
UltraTech’s total expenses in Q4 FY23 grew by 19.76 percent to Rs 16,292.95 crore from Rs 13,604.20 crore a year ago
Aditya Birla Group firm UltraTech Cement on Friday reported a 36.1 per cent decline in its consolidated net profit at Rs 1,670.10 crore for the fourth quarter ended March 2023, mainly due to increase in input costs. The company posted a net profit of Rs 2,613.75 crore in the January-March period a year ago, UltraTech Cement said in a BSE filing.
However, its revenue from operations grew 17.72 per cent to Rs 18,562.38 crore during the quarter under review, as against Rs 15,767.28 crore in the year-ago period.
UltraTech’s total expenses in Q4 FY23 grew by 19.76 per cent to Rs 16,292.95 crore from Rs 13,604.20 crore a year ago.
Total income grew 20.71 percent to Rs 18,783.59 crore in the March quarter.
During the quarter, “the company witnessed an increase of 17 percent YoY (Y-o-Y) and 4 percent lower QoQ (Q-o-Q) in energy cost. Pet coke and coal prices increased by 18 per cent year-on-year. In its earnings statement, UltraTech said raw material cost increased by 9 per cent due to increase in cost of fly ash, slag and gypsum etc.
In the fourth quarter, UltraTech’s domestic sales grew 15 percent with 95 percent capacity utilization. UltraTech’s total consolidated sales volume grew 14 per cent to 31.7 million metric tonnes in the March quarter.
For the financial year ending March 2023, UltraTech’s net profit is down 30.82 per cent to Rs 5,073.40 crore. It was Rs 7,334.26 crore in FY22. Its revenue from operations in FY23 grew by 20.23 per cent to Rs 63,239.98 crore as against Rs 52,598.83 crore a year ago.
“UltraTech achieved the unique distinction of registering 100 million tonnes of production, dispatch and sales in FY23. This was supported by an effective capacity utilization of 95 percent during the quarter and 84 percent for the year.
Meanwhile, in a separate filing, UltraTech informed that its board in its meeting held on Friday recommended a dividend of Rs 38 per equity share of Rs 10 each for the year ended March 31, 2023.
UltraTech said its capital and financial resources are fully secure and its liquidity position is adequately covered. On the outlook, UltraTech said, “Cement demand across sectors remains strong, which augurs well for the company.”
Shares of UltraTech Cement Ltd. on Friday closed at Rs 7,554.60 on the BSE, up 0.71 per cent from its previous close.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)