Aditya Birla group agency UltraTech Cement Ltd on Friday reported a decline of 6.94 per cent in its consolidated internet revenue at Rs 1,582.02 crore within the June 2022 quarter, impacted by inflationary tendencies.
The firm had posted a internet revenue of Rs 1,700.03 crore within the April-June interval a 12 months in the past, UltraTech Cement mentioned in a BSE submitting.
Its income from operations was up 28.18 per cent to Rs 15,163.98 crore in the course of the quarter beneath evaluate as in opposition to Rs 11,829.84 crore within the corresponding interval of the final fiscal.
“After a strong end to FY22, cement demand was impacted by overall inflationary trends and lower labour availability in May 2022. However, cement demand picked up in June 2022 on pre-monsoon construction activity,” mentioned UltraTech Cement in its earnings assertion.
In Q1 FY23 UltraTech’s consolidated gross sales quantity was 25.04 million metric tonnes in the course of the quarter, registering a 16 per cent development year-on-year.
“The company achieved capacity utilisation of 83 per cent as against 73 per cent during Q1 FY22. Domestic sales volume grew 19 per cent on a year-on-year basis,” mentioned UltraTech.
According to the corporate, all segments indicated a constructive demand atmosphere.
“Demand growth largely supported by government spending and an improved outlook for the real estate industry,” mentioned UltraTech in its traders’ presentation.
UltraTech Cement’s whole bills have been at Rs 12,980.06 crore, up 36.51 per cent in Q1 FY23 as in opposition to Rs 9,508.26 crore.
Discussing about key value indicators in Q1 FY23, UltraTech mentioned its logistics value in the course of the quarter “increased 6 per cent YoY to Rs 1,253 per tonne”, whereas power value elevated by 54 per cent YoY to Rs 1,573 per tonne as a result of an “increase in fuel prices”.
Raw materials value “increased 13 per cent YoY to Rs 577 per tonne” as a result of a rise in enter value and diesel costs, UltraTech added.
About its capital expenditure, UltraTech mentioned its present enlargement programme is on observe and estimated to be accomplished by the tip of FY23.
“Work on further capex announced during the quarter has already commenced and commercial production from these new capacities is expected to go on stream in a phased manner by FY25,” it mentioned.
Upon completion of the newest spherical of enlargement, the corporate’s capability will develop to 159.25 MTPA, reinforcing its place because the third largest cement firm on the planet, exterior of China, the earnings assertion added.
Over the outllook, UltraTech mentioned it expects an upswing in demand for the cement trade in FY23 regardless of inflationary pressures.
“While headwinds arising out of rising cost pressure could put some pressure on the profitability of cement companies, the strong momentum in housing and given the governments thrust on infrastructure and industrial development, the cement industry in India is set to see an upswing in demand in FY23,” the Aditya Birla group agency mentioned.
Shares of UltraTech Cement Ltd closed at Rs 6,437 on BSE on Friday, up 5.03 per cent from the earlier shut.
