The company had posted a consolidated net profit of Rs 758.7 crore in the same quarter last fiscal, UltraTech said in a regulatory filing.
Consolidated revenue from operations stood at Rs 16,012.13 crore, against Rs 13,892.69 crore in the previous year period, it added.
Total expenses in the second quarter were higher at Rs 14,493.01 crore, compared to Rs 12,934.27 crore in the corresponding period last fiscal, the company said.
“Cement demand remained positive in Q2FY24 as well. The company witnessed demand from all sectors, fueled by government-led infrastructure, rural development and urban housing demand,” the report said.
UltraTech said it achieved a 75 percent occupancy rate during the quarter thanks to capacity expansion.
Energy costs fell by 10 percent year-on-year, while raw material costs increased by 4 percent due to the increase in fly ash and slag costs.
The company said its ongoing expansion program is progressing on schedule. 5.5 million tonnes of capacity has already been commissioned this financial year, following a capacity expansion of 12.4 million tonnes in the 2023 financial year.
Shares of UltraTech Cement Ltd were trading up 1.44 per cent at Rs 8,400.10 apiece on the BSE on Thursday.