UltraTech Cement Q2 net profit up 68.75% to Rs 1,280 crore, sales at Rs 16,012.13 crore

UltraTech Cement Ltd on Thursday reported a 68.75 per cent jump in consolidated net profit at Rs 1,280.38 crore for the second quarter ended September 30, 2023. The company had posted a consolidated net profit of Rs 758.7 crore in the same quarter last fiscal, UltraTech said in a regulatory filing.

Consolidated revenue from operations stood at Rs 16,012.13 crore against Rs 13,892.69 crore in the year-ago period, it added. Total expenses in the second quarter were higher at Rs 14,493.01 croreore, as compared to Rs 12,934.27 croreore in the corresponding period last fiscal, the company said. "Cement demand maintained its positive momentum during Q2FY24 also. The company witnessed demand from all sectors, fuelled by government-led infrastructure, rural development and urban residential demand," it said.

UltraTech said it achieved capacity utilisation of 75 per cent during the quarter on expanded capacity. Energy cost was lower by 10 per cent YoY, while raw material cost rose 4 per cent on account of an increase in cost of fly ash and slag.

The company said its ongoing expansion program is progressing as per schedule with 5.5 mtpa capacity already being commissioned during this financial year following a 12.4 mtpa capacity addition during FY23. Shares of UltraTech Cement Ltd on Thursday were trading 1.44 per cent up at Rs 8,400.10 apiece on the BSE.