Last update: April 28, 2023, 6:24 PM HST
For the year ended March 2023, UltraTech’s net profit declined by 30.82% to Rs 5,073.40 crore. It was Rs 7,334.26 crore in FY22.
UltraTech’s total expenditure in the fourth quarter of FY23 increases by 19.76% to reach Rs 16,292.95 crore from Rs 13,604.20 crore a year ago
Aditya Birla Group company, UltraTech Cement, on Friday announced a 36.1% drop in its consolidated net profit to Rs 1,670.10 crore for the fourth quarter ended March 2023, mainly due to an increase in the cost of inputs. The company had recorded a net profit of Rs 2,613.75 crore in the January-March period a year ago, UltraTech Cement said in an ESB filing.
However, its operating revenue increased by 17.72% to Rs 18,562.38 crore in the quarter under review from Rs 15,767.28 crore a year ago.
UltraTech’s total expenditure in the fourth quarter of FY23 increased by 19.76% to Rs 16,292.95 crore from Rs 13,604.20 crore a year ago.
Total revenue for the March quarter jumped 20.71% to Rs 18,783.59 crore.
During the quarter, “the company saw an increase in the cost of energy of 17% YoY (YOY) and a decrease of 4% QoQ (QoQ). Petroleum coke prices and coal increased 18% YoY Raw material cost increased 9% YoY due to increased cost of fly ash, slag and gypsum, etc.,” said UltraTech in its income statement.
In the fourth quarter, UltraTech’s domestic sales increased 15% with capacity utilization of 95%. Ultratech’s total consolidated sales volume in the March quarter increased 14% to 31.7 million metric tons.
For the year ended March 2023, UltraTech’s net profit declined by 30.82% to Rs 5,073.40 crore. It was Rs 7,334.26 crore in FY22. Its operating income in FY23 increased by 20.23% to Rs 63,239.98 crore from Rs 52,598.83 crore a year ago.
“UltraTech achieved the unique distinction of recording 100 million tons of production, shipments and sales in FY23. This was supported by effective capacity utilization of 95% in that quarter and 84% capacity utilization for the year,” he said.
Meanwhile, in a separate filing, UltraTech informed that its board of directors at a meeting held on Friday had recommended a dividend of Rs 38 per share of Rs 10 each for the financial year ending March 31, 2023.
UltraTech said its capital and financial resources remain fully protected and its liquidity position is adequately hedged. On the outlook, UltraTech said, “Cement demand across all sectors remains strong, which bodes well for the company.”
On Friday, UltraTech Cement Ltd’s share price stood at Rs 7,554.60 each on BSE, up 0.71% from the previous close.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)