UltraTech Cement Q3 net profit grows 67% to Rs 1,774 crore

UltraTech Cement Ltd on Friday reported a 67% jump in consolidated net profit to Rs 1,774.78 crore for the third quarter ended December 2023. The company posted a consolidated net profit of Rs 1,062.58 crore in the October-December quarter last fiscal, according to a regulatory filing.

Its revenue from operations rose 7.85% to Rs 16,739.97 crore during the period. It was Rs 15,520.93 crore in the corresponding period a year ago.

The company reported a "highest-ever quarterly profit after tax" in the December quarter, according to a company's earnings statement.

"Domestic grey cement sales volume rose 5% YoY (year-on-year) and 1% QoQ (quarter-on-quarter), respectively. Improved operational efficiencies, coupled with lower fuel and raw material costs resulted in improved EBITDA margins," it said.

UltraTech's total expenses increased 2.88% to Rs 14,531.04 crore during the quarter under review.

The total income of the Aditya Birla Group firm, which includes other income, grew 7.87% to Rs 16,880.45 crore in the December quarter.

Shares of UltraTech Cement Ltd were trading 1.24% higher at Rs 10,015 apiece on the BSE.