Aditya Birla Group company UltraTech Cement reports consolidated net profit today 1,708 crore for the December quarter (Q3FY22), which is 8% higher than a year ago. that was 1,584 crore in the previous year period.
Analysts pencil in net profit after tax 1,200 crores 1,500 crore for the third quarter.
“has a one-time advantage of 535 crore in tax for the earlier years,” UltraTech said.
The company’s consolidated net sales arrived at 12,710 crore as compared to 12,144 crore as compared to the corresponding period of last year.
On Monday, the stock of UltraTech Cement was trading with a fall of 0.48%. In the afternoon, deals on NSE 7,623.60.
UltraTech’s board has also approved capital expenditure of 965 crore for modernization and expansion of capacity at Birla White from the existing 6.5 LTPA to 12.53 LTPA in a phased manner.
On the operational front, Ultratech said, after gaining momentum in October 2021, demand slowed significantly in November 2021 as a result of construction restrictions in the NCR, extended monsoon in the south and sand issues in some states in the north. Eastern region as well as parts of Uttar Pradesh and Diwali holiday season.
The company said it has been able to maintain a strong growth trajectory so far, registering a growth of 13.2% in its domestic cement sales volume in the nine months ended December, 2021, despite a marginal decline in the reported quarter.
On the cost front, pet coke and international coal prices have started moderating during the quarter, though current rates are at year-on-year highs. It said that despite the recent reduction in duty/other charges by the central and state governments, diesel prices have increased by 24 per cent year-on-year.
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