UltraTech Cement Q1 PAT rises 7% to Rs 1,688 cr

New Delhi: Aditya Birla group firm UltraTech Cement on Friday reported a 7 per cent rise in its consolidated profit after tax (PAT) to Rs 1,688 crore for the first quarter ended June 2023, aided by robust sales in the domestic market.

The company had posted a PAT of 1,584 crore in the April-June quarter of the last fiscal.

Its net sales rose to Rs 17,519 crore in the first quarter compared to Rs 15,007 crore in the year-ago period, UltraTech Cement said in a regulatory filing.

The company said it continues to deliver strong growth quarter after quarter, achieving a 20 per cent expansion during the June quarter.

During the April-June period, the company achieved capacity utilisation of 89 per cent against 83 per cent during the first quarter of FY23, it said.

Domestic sales volume registered 20 per cent growth year-on-year, it added.

UltraTech Cement said that its total grey cement manufacturing capacity in India now stands at 131.25 mtpa.

Work on the company's next phase of growth of 22.6 mtpa is in full swing, it added.

Commercial production from new capacities is expected to go on stream in a phased manner by FY25/FY26, the company stated.

On business outlook, it noted that demand for cement across all sectors continues to remain strong, which is a highly favourable factor.

"Higher infrastructure spending ahead of the general elections in 2024 is expected to further propel cement demand during this fiscal," it added.

Shares of the company were trading 0.51 per cent up at Rs 8,265.50 apiece on the BSE.