UltraTech Cement Q1 results: Profit rises 6.6% to Rs 1,688 crore; sales up 16.7%
UltraTech Cement said the energy cost was up 3 per cent YoY, primarily due to currency devaluation. There was a 6 per cent rise in raw material cost, it added.
- Jul 21, 2023,
- Updated Jul 21, 2023 2:03 PM IST
UltraTech Cement on Friday said its consolidated profit rose 6.56 per cent year-on-year (YoY) to Rs 1,688 crore in the June quarter compared with Rs 1,584 crore in the same quarter last year.
Net sales for the quarter jumped 16.73 per cent to Rs 17,519 crore from Rs 15,007 crore YoY.
UltraTech Cement said: "The company continues to deliver strong growth quarter after quarter, achieving a 20 per cent growth during the quarter. This was following up on a 23 per cent growth during Q4FY23, reflecting its strong position in the domestic markets. Profit after tax also rose 9 per cent for the India operations."
UltraTech Cement said it achieved capacity utilisation of 89 per cent for the quarter against 83 per cent in the year-ago quarter. Domestic sales volume registered 20 per cent growth year-on-year. The energy cost was up 3 per cent YoY, primarily due to currency devaluation. Additionally, there was a 6 per cent rise in raw material cost, mainly driven by the higher costs of fly ash and slag, UltraTech Cement said.
Also read: Hot stocks on July 21, 2023: Suzlon Energy, South Indian Bank, Polycab India, Infosys, and more
UltraTech Cement on Friday said its consolidated profit rose 6.56 per cent year-on-year (YoY) to Rs 1,688 crore in the June quarter compared with Rs 1,584 crore in the same quarter last year.
Net sales for the quarter jumped 16.73 per cent to Rs 17,519 crore from Rs 15,007 crore YoY.
UltraTech Cement said: "The company continues to deliver strong growth quarter after quarter, achieving a 20 per cent growth during the quarter. This was following up on a 23 per cent growth during Q4FY23, reflecting its strong position in the domestic markets. Profit after tax also rose 9 per cent for the India operations."
UltraTech Cement said it achieved capacity utilisation of 89 per cent for the quarter against 83 per cent in the year-ago quarter. Domestic sales volume registered 20 per cent growth year-on-year. The energy cost was up 3 per cent YoY, primarily due to currency devaluation. Additionally, there was a 6 per cent rise in raw material cost, mainly driven by the higher costs of fly ash and slag, UltraTech Cement said.
Also read: Hot stocks on July 21, 2023: Suzlon Energy, South Indian Bank, Polycab India, Infosys, and more