UltraTech Cement Q1 results: Net profit zooms 109% YoY to Rs 1,681 cr, beats estimates; sales rise 36%

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MUMBAI: today reported a 108.6 per cent year-on-year rise in net profit to Rs 1,681 crore for the quarter ended June, which was above analysts’ expectations.

The company reported net sales growth of 35.6 per cent on-year to Rs 11,327 crore, which was slightly below Street’s estimates.

The strong topline performance in the quarter was aided by the low base of the year-ago quarter when the national lockdown adversely affected the company’s performance.

The cement major’s profit before interest, tax, depreciation and amortization jumped 50.5 per cent on a year-on-year basis to Rs 3,388 crore with the operating margin expanding 90 basis points to 28 per cent.

The firm operating performance by the company is a result of tight leash on costs. The company said that production costs in the quarter rose 10 per cent mainly on account of higher fuel prices.

The company said it remains cautiously optimistic given its inherent financial and operational resources but is mindful of the likely onset of the third wave of Covid-19 infections in the country.

UltraTech also said that its capital expenditure plan is on track and will conclude by the end of 2022-23, which will help augment its capacity to 136.25 million tonnes.

Shares of UltraTech were trading 0.4 per cent up at Rs 7,454.20 on the National Stock Exchange.

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