Ultratech Cement stock declines 2% post Q1FY23 numbers

25 Jul 2022 , 09:16 AM

UltraTech Cement Limited, an Aditya Birla Group company has announced its financial results for the quarter ended June 30, 2022.

In a regulatory filing the company said, “After a good financial year of FY22, cement demand was greatly impacted by overall inflationary trends and lower labour availability in May 2022. However, cement demand picked up pace in month June 2022 on construction on pre-monsoon activity.

Consolidated Net Sales was Rs15,007 crore vis -a-vis Rs11 ,698 crore over the corresponding period of the previous year. Profit before interest, depreciation and tax was Rs3,204 crore compared to Rs3,512 crore. Profit before tax was Rs2,293 crore and Profit after tax was Rs1,584 crore compared to Rs2,526 crore and Rs1,703 crore, respectively.

Further, the Company achieved capacity utilisation of 83% as against 73% during 01 FY22. Domestic sales volume grew 19% on yoy basis.

The Company has commenced 18 MW of WHRS capacity during the quarter to enhance environment conservation measures. With this , the Company’s total WHRS capacity stands augmented to 185 MW covering nearly -16% of its current power needs. This is expected to increase to 250 MW by the end of this fiscal year FY23″, the company said.

On Monday early morning trade, UltraTech Cement was trading at Rs6,331 per share down by Rs123.5 or 1.91% from its previous closing of Rs6,454.50 per share on the BSE.