UltraTech Q2 net profit falls 42% to Rs 756 cr on higher energy costs

The pick-up in retail demand was led by pre-Diwali construction gaining momentum, UltraTech said

The country’s largest cement maker UltraTech Cement, on Wednesday reported a 42.5 per cent decline in its consolidated net profit to Rs 755.7 crore due to higher energy costs for the quarter ended September 30, 2022.

The company had reported a net profit of Rs 1,313.5 crore in the year-ago period. On a sequential basis, UltraTech’s profit was down 52.3 per cent from Rs 1,584 crore in the April-June period. The consolidated revenue for the quarter under review at Rs 13,892.7 crore was 15.6 per cent higher in comparison to an year ago when revenue came in at Rs 12,017