ULTRATECH FIRST QTR PROFIT JUMPS 15.7% TO ₹1,310 CR

NEW DELHI: Aditya Birla group firm UltraTech Cement Ltd on Monday reported a consolidated net profit of ₹1,310.34 crore for the quarter ended in September 2021 against ₹1,310.06 crore in the year-ago quarter on account of sharp rise in coal and pet coke prices.

However, its revenue from operations was up 15.69% to ₹12,016.78 crore during the quarter under review as against ₹10,387.14 crore in the corresponding period of the last fiscal, UltraTech Cement said in a BSE filing.

UltraTech Cement’s total expenses were at ₹10,209.43 crore, up 17.02% in the second quarter of 2021-22 as against ₹8,724.43 crore in the year-ago period.

“Coal and Pet coke prices nearly doubled in Q2FY22 resulting in energy cost rising 17% YoY. The resulting impact on the company’s operations were partly offset by reduction in power consumption and continuing focus on operational efficiencies,” said UltraTech Cement.

The company expects to commence mining operations at its Bicharpur coal block situated in Madhya Pradesh, during Q3/ FY22 which will help in reducing the dependence on coal purchases, it added.

During the quarter, UltraTech’s consolidated sales volume was at 21.64 million metric tons, registering a year-on-year growth of 8% .

While sharing updates over Covid-19, UltraTech said, “The unexpectedly virulent second wave of Covid-19, looks to be receding almost as quickly as it was rising.” “Nevertheless, UltraTech continues to closely monitor the situation and the impact on its operations, while according utmost primacy to the safety and well-being of its employees and business partners,” it said.

Moreover, during the quarter, UltraTech commissioned cement capacity of 1.2 MTPA in October 2021 at—Patliputra Cement Works, Bihar and Dankuni Cement Works, West Bengal.