NEW DELHI: UltraTech Cement on Friday said the consolidated net profits for the quarter ended March stood at Rs 2,620.43 crore, up 47.61 per cent from Rs 1,775.23 crore in the same quarter last year.

This compares with Rs 1,437 crore that analysts projected in an ET Now poll. The company said its revenue from operations came in at Rs 15,767.28 crore, jumping 9.45 per cent from Rs 14,405.61 crore in the year-ago quarter.

The board of directors also recommended a dividend of Rs 38 per equity share for the year ended March 2022, subject to the approval of shareholders at the ensuing Annual General Meeting of the company.

“After a slow start to the quarter, demand improved month-on-month, driven by improvement in the government’s various project execution. Input cost inflation remains a concern with the rise in fuel and diesel prices,” said the company.

The company saw an increase in energy cost by 48 per cent during the quarter, with prices of pet coke and coal doubling during the period.

Raw material cost increased 7 per cent on account of fly ash, bauxite, gypsum and HSD. The company achieved effective capacity utilization of 90 per cent during the quarter.

“UltraTech’s capital and financial resources remain fully protected and its liquidity position is adequately covered. Most importantly, it continues to remain committed to all its business associates. Rural and urban demand is also expected to pick up going forward. All of this augur well for the company,” said the firm.

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By Dipak

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