BackUltraTech Cement Q4FY23 Results: Net profit down 36%, declares dividend
During Q4FY23, consolidated revenue from operations jumped 18.4% to ₹18,662.4 crore as compared to ₹15,767 crore reported by the cement major during the same period previous year.
PremiumUltraTech Cement Ltd on Friday reported its earnings for the January-March quarter for the fiscal year 2023 (Q4FY23) in which its consolidated net profit stood at ₹1,665.95 crore, down 36% on year from ₹2620.43 crore.
During Q4FY23, consolidated revenue from operations jumped 18.4% to ₹18,662.4 crore as compared to ₹15,767 crore reported by the cement major during the same period previous year.
For the fiscal year that ends in March 2023, the board has recommended a dividend of ₹38 per equity share worth ₹10 apiece.
UltraTech Cement Q4 result: Firm declared dividend, check details here
UltraTech Cement's total expenses for the quarter ended March rose nearly 20% year-on-year to ₹16,292.95 crore from ₹13,604.20 crore.
The company stated in an exchange filing that it saw a 17% year-over-year increase in energy costs and a 4% decrease quarter-over-quarter (QoQ).
Pet coke and coal prices had an 18% year-over-year (YoY) increase. Due to increases in the price of fly ash, slag, and other raw materials, the cost of raw materials increased by 9% YoY.
Operating profit for the company, calculated as profits before interest, tax, depreciation, and amortisation (EBITDA), was ₹3,444 crore for the quarter, up 9% from the same time last year.
Operating EBITDA increased from ₹900/Mt in the previous quarter to ₹1060/Mt in Q4FY23.
Capital Expenditure plans
The expansion program is moving along according to plan, said the company in an exchange filing.
The company added 12.4 million tonnes per year (mtpa) of grey cement capacity throughout the year. On April 23, it also started up a 2.2 mtpa brownfield cement capacity at Patliputra.
The company has already started working on its 22.6 mtpa next phase of growth. At the majority of locations, civil work is ongoing. By FY25/FY26, commercial production from this increased capacity is expected to start up gradually. After these additions are finished, the company's capacity will increase to 160.45 mtpa.
On Friday, shares of the company ended at ₹7,554.60 per share, up 0.7% or ₹53.35.
Ultratech Q4 Results: Stock trades flat ahead of numbers
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