UltraTech Cement Q2 net profit up 68.75% to Rs 1,280 cr, sales at Rs 16,012.13 cr

New Delhi: UltraTech Cement Ltd on Thursday reported a 68.75 per cent jump in consolidated net profit at Rs 1,280.38 crore for the second quarter ended September 30, 2023.

The company had posted a consolidated net profit of Rs 758.7 crore in the same quarter last fiscal, UltraTech said in a regulatory filing.

Consolidated revenue from operations stood at Rs 16,012.13 crore, as against Rs 13,892.69 crore in the year-ago period, it added.

Total expenses in the second quarter were higher at Rs 14,493.01 crore, as compared to Rs 12,934.27 crore in the corresponding period last fiscal, the company said.

"Cement demand maintained its positive momentum during Q2FY24 also. The company witnessed demand from all sectors, fuelled by government-led infrastructure, rural development and urban residential demand," it said.

UltraTech said it achieved capacity utilisation of 75 per cent during the quarter on expanded capacity.

Energy cost was lower by 10 per cent YoY, while raw material cost rose 4 per cent on account of increase in cost of flyash and slag.

The company said its on-going expansion program is progressing as per schedule with 5.5 mtpa capacity already been commissioned during this financial year following a 12.4 mtpa capacity addition during FY23.

Shares of UltraTech Cement Ltd on Thursday were trading 1.44 per cent up at Rs 8,400.10 apiece on the BSE.