UltraTech Q4 net profit falls 36% to Rs 1,670 cr, revenue up 17.7%
Aditya Birla group firm UltraTech Cement on Friday reported a 36.1 per cent decline in its consolidated net profit to Rs 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 Rs 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 per cent to Rs 18,562.38 crore during the quarter under review against Rs 15,767.28 crore in the year-ago period.
UltraTech's total expenses in Q4 FY23 increased 19.76 per cent to Rs 16,292.95 crore from Rs 13,604.20 crore a year ago.
The total income in the March quarter surged 20.71 per cent to Rs 18,783.59 crore.
During the quarter, "the company saw an increase in energy cost by 17 per cent YoY (year-on-year) and 4 per cent lower QoQ (quarter-on-quarter). Prices of pet coke and coal increased 18 per cent YoY. Raw material cost was up 9 per cent YoY on account of increase in the cost of fly ash, slag and gypsum etc," UltraTech said in its earning statement.
During the quarter, "the company saw an increase in energy cost by 17 per cent YoY (year-on-year) and 4 per cent lower QoQ (quarter-on-quarter). Prices of pet coke and coal increased 18 per cent YoY. Raw material cost was up 9 per cent 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 per cent with a capacity utilisation of 95 per cent. Ultratech's total consolidated sales volume in the March quarter rose 14 per cent to 31.7 million metric tonnes.
For the financial year ended March 2023, UltraTech's net profit declined 30.82 per cent to Rs 5,073.40 crore. It was Rs 7,334.26 crore in FY22.
Its revenue for operation in FY23 increased 20.23 per cent to Rs 63,239.98 crore against Rs 52,598.83 crore a year ago.
Its revenue for operation in FY23 increased 20.23 per cent to Rs 63,239.98 crore against Rs 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 per cent during this quarter and 84 per cent 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 Rs 38 per equity share of Rs 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 Rs 7,554.60 apiece on BSE, up 0.71 per cent from the previous close.
