UltraTech Q3 profit up 7.9%
Announces Rs 965-cr capex for its modernisation, doubling Birla White production capacity
UltraTech to expand capacity
New Delhi: Aditya Birla group firm UltraTech Cement Ltd on Monday reported a 7.92 increase in its consolidated net profit to Rs 1,710.14 crore in the third quarter ended December 2021 as trade sales were impacted and overall cement demand remained subdued during the period.
The leading cement producer had posted a net profit of Rs 1,584.58 crore in the October-December quarter a year ago.
Revenue from operations rose by 5.89 per cent to Rs 12,984.93 crore during the quarter under review compared to Rs 12,262 crore in the corresponding period of the last fiscal, the company said in a BSE filing. UltraTech Cement's total expenses were at Rs 11,422.05 crore, up 12.09 per cent in Q3FY 2021-22 as against Rs 10,190.03 crore in the year-ago period.
The Aditya Birla Group Company also announced a capital expenditure (capex) of Rs 965 crore for its modernisation and to almost double the production capacity of its white cement brand Birla White. The company plans to increase the capacity of Birla White from the current 6.5 lakh tonnes per annum (LTPA) to 12.53 LTPA, UltraTech Cement said in a post-earnings statement.
"After gaining pace in October 2021, demand slowed down substantially in November 2021 as a result of the construction ban in the NCR, extended monsoons in the south and a few states in the north, sand issues in the eastern region as well as in parts of Uttar Pradesh, and the Diwali holiday season," the Aditya Birla Group firm said in a post earning statement.
