Ultratech Cement Ltd Q3 Results FY2024, Net profit at Rs.1777 crores

Shreya Anaokar 19th January 2024 - 02:22 pm

On 19th January, Ultratech Cement announced its quarterly results.

Key Highlights:

- Consolidated Net Sales were reported at Rs.16487 crores for Q3FY24.
- PBDIT increased to Rs. 3395 crores from Rs. 2462 crores.
- Profit after tax was Rs 1,777 crores highest ever quarterly PAT as compared to Rs 1,058 crores in Q3FY23.

Business Highlights:

- Sales volume of grey cement in the country increased 1% QoQ and 5% YoY, respectively. Lower fuel and raw material costs combined with increased operational efficiency translated into higher EBITDA margins.
- During the quarter, the company entered the state of Jharkhand when it paid Rs. 169.79 crores to buy a 0.54 mtpa cement grinding asset of Burnpur Cement Limited, which is located in Patratu, Jharkhand.
- The first phase of the company's capacity expansion, which was announced in December 2020, has been completed. The second phase of the 22.6 mtpa project, which was announced in June 2022, is underway and will begin commissioning early this quarter.
- Significant orders to important technology suppliers have already been made in preparation for the 21.9 mtpa third phase of development that was announced in October 2023, and civil construction has started at a few places.