UltraTech Cement posts 38 pc drop in net profit to Rs 1,058 cr in Q3
Jan 21, 2023
Mumbai (Maharashtra) [India], January 21 : Aditya Birla Group company UltraTech Cement on Saturday reported 38 per cent year-on-year drop in its net profit to Rs 1,058.20 crore in the October-December quarter, against Rs 1,707.72 crore in the year-ago period. Its revenue from operations, however, rose 19.5 per cent YoY to Rs 15,520.93 crore from Rs 12,984.93 in the corresponding quarter the previous year.
According to a company statement, the net profit margin went down to 7 per cent in the reviewed quarter from 13 per cent in the year-ago period.
The current liability ratio went up from 44 per cent to 45 per cent in the corresponding quarter the previous year.
The basic earnings per share went down to Rs 36.68 in the reviewed quarter from Rs 59.19 in the year-ago period.
The company's operating margin dropped to 15 per cent in Q3 from 19 per cent in the year-ago period but was up 100 bps sequentially. Volume growth was strong during the quarter but cost pressures resulted in subdued margins.
During the quarter, ready mix concrete (RMC) revenue grew by 50 per cent y-o-y while the premium products contributed to 18.8 per cent of trade sales volume. The company's consolidated net debt decreased to Rs 7,722 crore in the third quarter from Rs 8,357 crore, sequentially.
UltraTech Cement Limited is an Indian cement company based in Mumbai. It is the largest manufacturer of grey cement, ready-mix concrete (RMC) and white cement in India with an installed capacity of 116.75 million tonne per annum.
