UltraTech Cement posted a profit of Rs 1582 crore in June quarter

UltraTech Cement made a profit of Rs 1582 crore in the June quarter. UltraTech Cement's profit on a year-on-year basis is down 7 percent. Let us tell you that the cement company has made a net profit of Rs 1700 crore in the same period last year. Along with positive news, shares of UltraTech Cement topped the Bombay Stock Exchange (BSE) Sensex on Friday. The shares of the cement company rose by Rs 325.50 on Friday and reached Rs 6454.50.

Net revenues for the company increased by 28.2% YoY to Rs 15,007 crore in the quarter under review from Rs 11,698 crore in the corresponding quarter of the previous fiscal.

UltraTech Cement's consolidated revenue grew 28% to Rs 15,163.98 crore in the first quarter of the financial year. In the first quarter of the previous financial year, UltraTech Cement's revenue was Rs 11,830 crore. UltraTech's consolidated net sales grew 28.2% year-on-year to Rs 15,007 crore in the June 2022 quarter, as against Rs 11,698 crore in the year-ago period.

In this regard, UltraTech Cement has said that the company has achieved capacity utilization of 83 percent in the June quarter of FY 2023, which was 73% during the first quarter of FY 2022. Domestic sales volume grew 19% on a year-on-year basis. The Aditya Birla Group company has said that its current expansion program is on track and is expected to be completed by the end of FY2023. Raw material costs grew 13% year-on-year in the June quarter.