UltraTech Cement Limited, an Aditya Birla group, reported an almost 8 percent increase in consolidated net profit for the quarter ended December 31, 2021 of the current fiscal year, at Rs 1,710 crore. The company had reported a net profit of Rs 1,584.58 crore during the corresponding period of last year.
Operating income increased by 5.89 percent to Rs 12,984.93 crore during the assessed quarter, compared to Rs 12,262 crore in the corresponding period of the last fiscal year, the company said in a BSE filing.
The total cost of UltraTech Cement was Rs 11,422.05 crore, up 12.09 percent in the third quarter of the current fiscal year, from Rs 10,190.03 crore reported during the corresponding period of last year.
“After accelerating in October 2021, demand slowed significantly in November 2021 due to the construction ban in the NCR, extended monsoons in the south and some states in the north, sand problems in the eastern region and parts of Uttar Pradesh and the holiday season of Diwali,” the company said in a statement.
During the quarter, UltraTech’s consolidated sales were 23.13 million tons, a 3 percent year-over-year decline.
“The company has managed to maintain a strong growth trajectory so far, growing 13.2 percent in domestic cement sales volumes in the nine months ended December 2021, despite marginal growth in the reported quarter.” the company said.
During the quarter, UltraTech commissioned 19 MW of WHRS (Waste Heat Recovery Unit) and 53 MW of solar.
“With this expansion, the company’s share of green energy has increased to 16 percent, including 156 MW WHRS and 221 MW solar,” it said.
On the current spread of the Omicron variant of COVID-19, the company said its impact on the economy needs to be measured.