UltraTech Cement Consolidated profit rises 13% YoY

UltraTech Cement Limited, the world’s third-largest cement manufacturer (excluding China) and largest in India, has reported consolidated profit after tax (PAT) of Rs 1,313.53 crore for the quarter ended September 2021, decreasing by about 23 percent from Rs 1,702.63 crore reported in the previous quarter on account of higher costs. On a year-on-year (YOY) basis, there was an increase of 13 percent from the adjusted net profit of Rs 1,166 crore. Consolidated revenue came in at Rs 12,017 crore, higher by 1.6 percent compared to Rs 11,830 crore in June 2021 quarter. On a YOY basis, the revenue was higher by 15.7 percent from Rs. 10,387 crore. The total consolidated volumes for the company stood at 21.64 million tonnes, a growth of 8 percent. Volumes for grey cement have grown on a YOY basis by 8 percent to 19.9 million tonnes. The company added 43 new Ready-mix concrete (RMC) plants during the quarter, taking the total of RMC plants to 148. White cement volumes grew by 17 percent YOY to 0.34 million tonnes. There was a reduction in exports and others due to COVID restrictions of about 45 percent which came in at 0.21 million tonnes. Overseas grey cement volumes were stagnant at 1.21 million tonnes. Overall, the company witnessed a growth in volumes across regions except central India where demand was more or less stagnant, and eastern India where the volumes went down due to rains and COVID restrictions. Strong demand growth was witnessed in Western India, especially Maharashtra & Gujarat where demand was pushed both by urban and rural demand as well as housing and infrastructure segment.