Ultratech Cement, a leading cement company, reported its highest-ever profit on Friday. For the December quarter, their profit was Rs 1,777 crore, a 68% increase from Rs 1,058 crore in the same quarter last year.
The company’s sales also went up by 8% from last year, reaching Rs 16,740 crore. These numbers matched the predictions of ET Now, which expected profits around Rs 1,725 crore and sales near Rs 16,705 crore.
Ultratech sold 5% more cement this quarter compared to last year. They used 77% of their total production capacity. In India, they sold 5% more grey cement, totaling 25.44 million tons. Their white cement sales jumped 18% to 0.48 million tons. Overall, including international sales, the total volume sold was 27.32 million tons, a 6% increase.
Breaking down the sales, grey cement brought in Rs 13,989 crore, up 7% from last year. White cement revenue was Rs 648 crore, 13% higher than last year.
The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 38% to Rs 3,395 crore. Operating EBITDA per metric ton for Indian operations was Rs 1,208, a 34% increase.
Total expenses were slightly higher than last year, at Rs 13,485 crore compared to Rs 13,185 crore.
Ultratech expanded in Jharkhand by buying a 0.54 million tons per annum grinding capacity from Burnpur Cement.
The company is also focusing on green energy. They improved their use of green power to 24.1%, including different types of renewable energy. Ultratech plans to use 85% green power by 2030 and aims to fulfill all its electricity needs from renewable sources by 2050.
Ultratech’s stock price rose 2.09% to Rs 10,098.75 on the National Stock Exchange (NSE) on Friday.
