June 19, 2024

Diabetestracker

Passion For Business

UltraTech Cement Q3 net profit more than doubles to Rs 1,584 crore

UltraTech Cement’s consolidated web profit far more than doubled to Rs one,584 crore in the December quarter in comparison to the exact same time period past yr on the again of greater income.

In the December quarter past yr, the Aditya Birla Group company had documented a bottom-line of Rs 711 crore.

Net income of the company stood at Rs twelve,254 crore in the time period less than critique, up 17 for each cent from the corresponding time period past yr fuelled by more rapidly need stabilisation, provide-facet restoration and larger price tag efficiencies.

“Whilst rural and semi-urban housing continue to drive expansion, choose-up in authorities led infrastructure aided incremental cement need. Pent-up urban need is expected to improve with the gradual return of the migrant do the job pressure,” knowledgeable the company in its launch.

In the meantime, the company’s profit just before interest, depreciation and tax (PBIDT) was at Rs three,362 crore in the quarter long gone by as from Rs two,147 crore in the corresponding time period of the former yr.

“Whilst gasoline charges have greater in latest months, operational efficiencies and tight command over expenses, are mirrored in the company’s 26 for each cent functioning margin.

Concentration on lowering personal debt carries on with web personal debt reduction during Q3FY21 at Rs two,696 crore and yr-to-day at Rs seven,424 crore,” knowledgeable UltraTech.

For the duration of the quarter, UltraTech’s Board accepted capital expenditure of Rs 5,477 crore to escalating the company’s ability by twelve.eight million tonnes with a mix of brown subject and green subject expansion. The extra ability is becoming produced in the rapidly-developing marketplaces of the east, central and north regions of the nation.

The 14.six million tonne cement vegetation obtained during the former money yr have been generating superior development on integration with manufacturing ramped up to virtually 84 for each cent toward the exit of Q3.

The well timed acquisition has enabled the Company to meet up with the developing need in the central and east marketplaces.

Going ahead, whilst UltraTech carries on to intently check the effect of COVID-19 on its operations, its capital and money assets continue to be completely safeguarded and its liquidity posture is sufficiently lined.

With strong rural expansion, revival in producing sentiment, buoyancy in GST and tax collections, UltraTech expects need to increase on the again of the Government’s force on infrastructure assignments.

Pricey Reader,

Enterprise Standard has constantly strived tricky to give up-to-day information and facts and commentary on developments that are of interest to you and have wider political and economic implications for the nation and the earth. Your encouragement and constant feedback on how to improve our featuring have only designed our resolve and motivation to these beliefs stronger. Even during these hard instances arising out of Covid-19, we continue to continue to be fully commited to retaining you knowledgeable and updated with credible information, authoritative views and incisive commentary on topical problems of relevance.
We, even so, have a request.

As we fight the economic effect of the pandemic, we need your aid even far more, so that we can continue to present you far more high-quality articles. Our membership design has viewed an encouraging reaction from many of you, who have subscribed to our on the web articles. Far more membership to our on the web articles can only enable us accomplish the objectives of featuring you even better and far more suitable articles. We believe in free, reasonable and credible journalism. Your aid via far more subscriptions can enable us practise the journalism to which we are fully commited.

Help high-quality journalism and subscribe to Enterprise Standard.

Digital Editor