NEW DELHI: Aditya Birla Group-owned on Monday said its consolidated net profits for the quarter ending December climbed 7.8 per cent to Rs 1,708 crore from Rs 1,584 crore in the corresponding quarter last year.
The figure beat projections by analysts in an ET NOW poll that had pegged profit for Q3FY22 at Rs 1,405 crore.
The company said its revenue from operations increased 5.89 per cent year-on-year to Rs 12,985 crore from Rs 12,262 crore in the same quarter last year. This was largely in line with Rs 12,900 crore figure projected by ET NOW analysts.
The cement major said after gaining pace in October 2021, demand slowed down substantially in November, 2021 as a result of the construction ban in the NCR, extended monsoons in the South and a few states in the North, sand issues in the Eastern region as well as in parts of Uttar Pradesh, and the Diwali holiday season.
“The company has yet been able to maintain a strong growth trajectory, recording a 13.2 per cent growth in its domestic cement sales volumes in the nine months ended December 2021, despite a marginal degrowth in the reported quarter,” said the firm.
The company is also facing headwinds in terms of increasing raw material prices. UltraTech said diesel prices are up 24 per cent per cent YoY, despite the recent reduction in duty/other levies by the Central/State Governments.
Though pet coke and international coal prices have started softening during this quarter, prevailing rates are still at elevated levels YoY, it said.
The company said with business continuity plans in place, UltraTech is better placed to tide over the current wave of the pandemic. As in the earlier waves, it continues to closely monitor the situation and impact on its operations.
More to come…
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