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.
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