UltraTech Cement Ltd reported consolidated net profit up 8% year-on-year (YoY) to ₹ 1,708 crore for the third quarter ended December 2021.
The company said in a filing that the profit includes a one-time profit of ₹535 crore in tax for the earlier years.
Consolidated net sales increased from ₹12,144 crore to ₹12,710 crore.
During the quarter, the company repaid loans of ₹3,459 crore. Repayments were funded through internal accruals and have reduced the company’s risk of fluctuating interest rates.
The Board, in its meeting held on Monday, approved a 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.
“Incremental capacity will be operational in a phased manner. The capacity expansion will help Birla White strengthen its presence in the growing white cement market, thereby reducing its dependence on high cost imports.
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