UltraTech profit flat at ₹1,310 cr. as costs surge

Representational image.   | Photo Credit: Reuters

Aditya Birla group firm UltraTech Cement Ltd. on Monday reported a consolidated net profit of ₹1,310.34 crore for the quarter ended in September against ₹1,310.06 crore in the year-earlier quarter on account of a sharp rise in coal and pet-coke prices.

However, revenue from operations was up 15.69% to ₹12,016.78 crore, UltraTech Cement said in a BSE filing.

Total expenses were at ₹10,209.43 crore, up 17.02%.

“Coal and pet-coke prices almost doubled in Q2FY22 resulting in energy cost rising 17% YoY.

“The resulting impact on the company’s operations were partly offset by a reduction in power consumption and continuing focus on operational efficiencies,” UltraTech Cement said.

The company expects to commence mining operations at its Bicharpur coal block situated in Madhya Pradesh, during Q3/FY22 which will help in reducing the dependence on coal purchases, it added.

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Printable version | Dec 1, 2021 9:19:07 AM |

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