Ultratech Cement Ltd Q2FY24 result: Net profit jumps 68% YoY to Rs 1,280 cr

The consolidated net profit of Aditya Birla Ultratech Cement Limited for the second quarter of the current financial year (Q2FY24) saw a rise of 68.75 per cent to Rs 1,280.38 crore, compared to Rs 758.7 crore for the corresponding quarter of the previous year, the company said in a BSE filing. Sequentially, the net profit was down 24.24 per cent. In Q1FY24, the net profit of the company was Rs 1,690.22 crore.

The revenue from operations for Q2FY24 came in at Rs 16,012.13 crore, compared to Rs 13,892.69 crore year-on-year (y-o-y). This is a rise of 15.25 per cent. On a quarter-on-quarter (q-o-q) basis, the revenue for operations was down 9.72 per cent. It stood at Rs 17,737.1 crore in Q1FY24.

The total income for Q2FY24 came in at Rs 16,179.26 crore, compared to Rs 14,038.95 crore y-o-y, registering a rise of 15.24 per cent. On a q-o-q basis, the total income was down 9.66 per cent. It was Rs 17,910.83 crore in Q1FY24.

In a press release, the company stated that it achieved capacity utilisation of 75 per cent during the quarter on expanded capacity. The energy cost was lower by 10 per cent YoY, while raw material cost rose 4 per cent because of the cost of fly ash and slag.

At 2:40 pm, the Ultratech Cement Limited stock was trading at Rs 8,460.75.