UltraTech Cement, an Aditya Birla Group company, reported that its net profit in the June quarter was flat at ₹1,695 crore against ₹1,690 crore logged in the same period last year, on the back of lower realisation.
- Also read: UltraTech to report flat growth in Q1 profit
Income was up two per cent at ₹18,235 crore (₹17,911 crore). Domestic sales volume increased 7 per cent y-on-y to 32 MTPA but was down nine per cent q-on-q.
Expenses increased three per cent to ₹16,128 crore (₹15,648 crore). EBITDA was down marginally at ₹3,205 crore (₹3,209 crore).
Grey cement realisation was down six per cent at ₹5,045 (₹5,350) a tonne. Logistics and fuel costs were down five per cent and 17 per cent to ₹1,198 per tonne and ₹1,003 per tonne while power expenses declined seven per cent to ₹383 a tonne. However, raw material costs increased one per cent to ₹619.
Debt on the company’s books increased to ₹13,179 crore against ₹10,298 crore. With a surplus of ₹7,696 crore, the net debt was at ₹5,482 crore (₹2,779 crore) in the June quarter.
The company has signed a purchase agreement and acquired 26 per cent equity capital in renewable energy generation and transmission company Amplus Omega Solar. The stake in the company was acquired for ₹24 crore and is expected to be completed in 180 days.
Incorporated last September, the company is setting 30.85 MW hybrid project with battery storage in Gujarat and 3.54 MW Solar project in Rajasthan and Odisha.
The company has registered a net loss of 234 million SLR (profit of 334 million SLR) in Sri Lanka and profit of 2 million AED (loss of 2 million AED) in the West Asia.
After the commissioning of 13.3 MTPA capacity of grey cement in FY24, the company has added another 8.7 mtpa capacity during the quarter under review.
With the ongoing expansions across locations and the proposed acquisition of the Cement Business of Kesoram Industries, UltraTech’s grey cement capacity will stand augmented to 199.6 mtpa, including its overseas capacity of 5.4 mtpa.