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    UltraTech Cement stuns with better-than-expected net profit boosted by govt infra push

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    UltraTech Cement stuns with better-than-expected net profit boosted by govt infra push

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    Aditya Birla group firm UltraTech Cement Ltd on Friday reported an increase of 38.3 percent in its consolidated net profit at Rs 2,454 crore in the fourth quarter ended March 2022.

    Leading cement maker UltraTech Cement Ltd on Friday reported a 38.3 percent year-on-year (YoY) jump in consolidated net profit at Rs 2,454 crore for the fourth quarter ended March 31, 2022.
    In the corresponding quarter last year, the company posted a net profit of Rs 1,774 crore. CNBC-TV18 Polls had predicted a profit of Rs 1,480 crore for the quarter under review.
    Its revenue from operations rose 9.5 percent YoY to Rs 15,767 crore from Rs 14,405.6 crore in the year-ago quarter. UltraTech Cement's total expenses were at Rs 13,604.20 crore, up 15.38 percent in Q4/FY 2021-22, as against Rs 11,790.41 crore.
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    UltraTech Cement said its net sales rose 9.3 percent to Rs 15,557 crore during the quarter against Rs Rs 14,232 crore in the corresponding period last financial year.
    For the full year, consolidated net sales at Rs 51,708 crore against Rs 44,239 crore over the previous year. Profit before interest, depreciation, and tax was Rs 12,022 crore against Rs 12,302 crore in the corresponding period of the previous year. Normalised profit after tax was Rs 5,667 crore compared to Rs 5,530 crore in the corresponding period of the previous year.
    At the operating level, EBITDA declined 16.7 percent to Rs 3,072.5 crore in Q4 FY22 over Rs 3,690.4 crore in Q4 FY21. EBITDA margin stood at 19.5 percent in Q4 FY22 as compared to 25.6 percent in Q4 FY21. EBITDA is earnings before interest, tax, depreciation and amortization.
    "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," UltraTech Cement said in a regulatory filing.
    The company saw an increase in energy cost by 48 percent, with prices of pet coke and coal doubling during the period. Raw material costs increased 7 percent on account of the increase in the cost of fly ash, bauxite, gypsum and HSD. Also, UltraTech Cement achieved effective capacity utilisation of 90 percent 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," it added.
    The Board of Directors recommended a dividend of Rs 38 per equity share of Rs 10 each for the year ended March 31, 2022, subject to the approval of shareholders at the ensuing Annual General Meeting of the company.
    At 3.15 PM IST, the shares of UltraTech Cement Ltd were trading at Rs 6,610.55, down 2.15 percent on BSE Sensex.
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