UltraTech Cement’s This fall internet revenue falls 32% to ₹1,666 crore, declares dividend

• UltraTech Cement’s income from operations for the quarter rose 18% at ₹18,662 crore from ₹15,767 crore within the year-ago quarter.
• UltraTech Cement’s board has really helpful a dividend of ₹38 per fairness share aggregating to ₹1,097 crore.
• Through the quarter, the cement maker noticed a rise in power price by 17% on yr and 4% decrease sequentially.

UltraTech Cement’s This fall internet revenue fell 32% to ₹1,666 crore as in comparison with ₹2,461 crore in the identical quarter final yr.

In the meantime, its income from operations for the quarter rose 18% to ₹18,662 crore from ₹15,767 crore This fall FY22, the corporate mentioned in a regulatory submitting.

Through the quarter, the cement maker noticed its power prices enhance by 17%, and costs of pet coke and coal too elevated 18% on a yearly foundation. Uncooked materials price was up 9% on yr on account of enhance in price of fly ash, slag and gypsum and so forth.

Including to it, the corporate’s tax expense additionally rose in This fall to ₹800 crore as in comparison with tax credit score of ₹139 crore in the identical quarter final yr.

UltraTech Cement’s board really helpful a dividend of ₹38 per fairness share aggregating to ₹1,097 crore.

The cement maker’s rival ACC additionally reported a decline in its profitability with a 40% fall in internet revenue to ₹235 crore for March quarter, on Thursday.

Ultratech mentioned it has achieved 100 million tons of manufacturing, dispatches and gross sales in FY23. This was backed by an efficient capability utilization of 95% throughout this quarter and 84% capability utilization for the yr.

Complete gross sales quantity for the quarter rose 15% on yr and 23% sequentially at 31.7 million tons.

Monetary efficiency in March quarter

Forward of the earnings, the corporate’s share worth closed 0.52% greater at ₹7,540 per share. UltraTech Cement talked about that the growth programme is progressing as per schedule. Through the yr, it commissioned 12.4 mtpa (million tonne every year) extra capability of gray cement.

It additional commissioned a 2.2 mtpa brownfield cement capability at Patliputra in April, 23. Work on its subsequent section of progress of twenty-two.6 mtpa has already commenced.

“Civil work is in full swing at most websites. Business manufacturing from these new capacities is anticipated to go on stream in a phased method by FY25/FY26. Upon completion of those expansions, the Firm’s capability will develop to 160.45 mtpa, reinforcing its place because the third largest cement firm on the planet, outdoors of China and the biggest in India by far,” it mentioned within the trade submitting.

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