UltraTech Cement Q2 Results FY2024, Net profit at Rs.1280.38 crores

On 19th October 2023, UltraTech Cement announced its quarterly results.

Key Highlights:

- Revenue from operations was Rs.16,012.23 crores  from  Rs.13,892.69 crores over the corresponding period of the previous year. 
- PBT was Rs.1689.74 crores compared to Rs.1103.19 crores from Q2FY24. 
- Profit after tax was Rs.1,280.38 crores compared to Rs.758.70 crores.

Business Highlights:

- UltraTech Cement Limited reported a robust volume growth of 16% for the quarter ended 30th September, 2023.
- On enhanced capacity, Ultra Tech utilized its capacity at 75% during the quarter. Energy costs decreased by 10% YoY, but raw material costs increased by 4% as a result of higher prices for flyash and slag. 
- The ongoing growth effort of UltraTech is going according to plan. 
- This fiscal year has already seen the commissioning of 5.5 mtpa capacity after adding 12.4 mtpa during FY23. 
- During the quarter, the company put 30 MW of WHRS capacity online. 
- With 429 MW of renewable energy and 262 MW of WHRS, green power currently makes about 22% of the entire amount of power needed.
- The Company's total capacity to produce grey cement in India is currently 132.45 mtpa.
- The second phase of growth for 22.6 mtpa is now under construction. Ultratech Cement is increasing phase 2's total slag grinding capacity by 1.8 mtpa as part of this project, bringing it to 24.4 mtpa.