UltraTech Cement Q2 profit reports consolidated net profit ₹825 crore
The Hindu
UltraTech Cement reports ₹825.18 crore net profit for September quarter 2024-25, plans expansion to surpass 200 MTPA.
“UltraTech Cement Limited on Monday (October 21, 2024) reported a consolidated net profit of ₹825.18 crore for September quarter 2024-25. It had posted a net profit of ₹1,280.38 crore in July-September FY24,” according to a regulatory filing from the Aditya Birla group flagship firm.
Revenue from operations was at ₹15,634.73 crore in the quarter. It was at ₹16,012.13 crore in the corresponding period a year ago. Total expenses were at ₹14,837.44 crore in September quarter FY25.
According to UltraTech, its consolidated results are "not comparable" due to the acquisition of an additional stake, increasing its holding to 54.79% in the UAE-based Ras Al Khaimah Co. for White Cement & Construction Materials PSC (RAKW).
“Consequently, RAKW has become a subsidiary of UCMEIL with effect from 10/07/2024. The above results include the financial results for RAKW w.e.f. 10/07/2024 and hence the figures for the three months and six months ended 30109/2024 are not comparable with the previous corresponding periods,” it said.
UltraTech Cement's total income, which includes other income, was at ₹15,855.46 crore. On standalone basis, UltraTech Cement's profit from the domestic market was down 34.71% to ₹796.89 crore in the September quarter.
Similarly, its revenue from the domestic market was down 3.68% to ₹14,905.23 crore in the September quarter despite an increase in sales volume. This was at ₹15,475.99 crore in the second quarter of FY 2023-24.
"UltraTech achieved capacity utilisation of 68% during the quarter," said an earning statement from the company adding domestic sales volume of Grey Cement grew 3% YoY to 25.75 Million Tonnes (MT) despite incessant rains throughout the country this season.
Karnataka’s per capita Gross State Domestic Product (GSDP) remains among the highest in India, on par with Telangana, reflecting the strength of Congress-led governance in both States. The State Government’s pro-people policies, including its guarantees, have ensured that the benefits of growth reach all sections of society, fostering inclusive and equitable development.