Aditya Birla group firm UltraTech Cement on Friday reported a 36.1% decline in its consolidated net profit to ₹1,670.10 crore for the fourth quarter ended March 2023, mainly due to an increase in input cost.
The company had posted a net profit of ₹2,613.75 crore in the January-March period a year ago, UltraTech Cement said in a BSE filing.
However, its revenue from operations rose 17.72% to ₹18,562.38 crore during the quarter under review against ₹15,767.28 crore in the year-ago period.
UltraTech’s total expenses in Q4 FY23 increased 19.76% to ₹16,292.95 crore from ₹13,604.20 crore a year ago.
The total income in the March quarter surged 20.71% to ₹18,783.59 crore.
During the quarter, “the company saw an increase in energy cost by 17% YoY (year-on-year) and 4% lower QoQ (quarter-on-quarter). Prices of pet coke and coal increased 18% YoY. Raw material cost was up 9% YoY on account of increase in the cost of fly ash, slag and gypsum etc,” UltraTech said in its earning statement.
In the fourth quarter, UltraTech’s domestic sales grew 15% with a capacity utilisation of 95%.
Ultratech’s total consolidated sales volume in the March quarter rose 14% to 31.7 million metric tonnes.
For the financial year ended March 2023, UltraTech’s net profit declined 30.82% to ₹5,073.40 crore. It was ₹7,334.26 crore in FY22.
Its revenue for operation in FY23 increased 20.23% to ₹63,239.98 crore against ₹52,598.83 crore a year ago.
“UltraTech achieved the unique distinction of registering 100 million tonnes of production, dispatches and sales in FY23. This was backed by an effective capacity utilisation of 95% during this quarter and 84% capacity utilisation for the year,” it said.
Meanwhile, in a separate filing, UltraTech informed that its board in a meeting held on Friday recommended a dividend of ₹38 per equity share of ₹10 each for the year ended March 31, 2023.
UltraTech said its capital and financial resources remain fully protected, and its liquidity position is adequately covered.
Over the outlook, UltraTech said, “Demand for cement across all sectors continues to remain strong, which augurs well for the Company”.
Share of UltraTech Cement Ltd. on Friday settled at ₹7,554.60 apiece on BSE, up 0.71% from the previous close.
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