Ultratech Cement records 8% increase in PAT for Q3 FY'22, volumes grow over 13% for 9M period

17 Jan 2022 , 03:33 PM

Ultratech Cement Ltd. announced its Q3 results on Monday and reported a growth of 8% in its PAT since the last quarter ending September 2021.
The company reported consolidated Net Sales of Rs.12,710 crores vis-à-vis Rs.12,144 crores over the corresponding period of the previous year. Its Profit after tax (PAT) jumped 8% to Rs.1,708 crores from Rs.1,584 crores. There is a one-time gain of Rs. 535 crores in tax for earlier years.

Its standalone revenue for the December 2021 quarter was Rs 12,186 crores against Rs 11,708 crores for the previous corresponding quarter, growing over 4% QoQ. While its standalone PAT increased to Rs 1,632 crores for Q3 FY’22 against Rs 1,550 for Q3 FY’21.

Ultratech reported a consolidated EBIDTA of Rs 2,490 crores for the quarter ending December 2021 against Rs 3,362 crores for the quarter ending December 2020.

The Company was able to maintain a strong growth trajectory, reporting a 13.2% growth in its domestic cement sales volumes in the nine months ended December 2021, despite marginal degrowth in the reported quarter.

In recognition of its efforts to accelerate its business towards a circular model, UltraTech won the Federation of Indian Chambers of Commerce and Industry’s (FICCI) Indian Circular Economy Award (ICEA), 2021.

The Ministry of Mines and Indian Bureau of Mines awarded a five-star rating for sustainable mine management to Ultratech’s 15 mines. This was awarded for last three years (2017-18, 2018-19 and 2019-20). With a total of 30 such 5 Star rating awards, Ultratech holds the highest number of five-star ratings awarded to any Indian company for all major minerals such as copper, bauxite, iron ore, limestone, zinc & lead and manganese.

UltraTech Cement ended at Rs7,866.10 up by Rs210.85 or 2.75% from its previous closing of Rs7,655.25 on the BSE.