UltraTech Q2 Earnings Miss Estimates

21 Oct 2024 , 02:46 PM

UltraTech, a leading cement company, announced on Monday that its consolidated net profit for the quarter ended September 2024 was Rs 820 crore, down 36% from Rs 1,281 crore the previous year.

Additionally, the result fell short of street projections of Rs 956 crore. Operating revenue fell to Rs 15,635 crore, a 2% YoY decrease.

Net profit after tax decreased by 52% sequentially from Rs 1,697 crore recorded in the June quarter before. Conversely, revenues decreased 13% from quarter to quarter (QoQ).

The Aditya Birla Group’s cement flagship company is UltraTech Cement Limited. UltraTech, a building solutions behemoth valued at USD 8.4 billion, is the biggest producer of ready-mix concrete (RMC) and grey cement in India, as well as one of the biggest producers of white cement. With China excluded, it is the third-largest producer of cement worldwide.

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