Aditya Birla group firm UltraTech Cement on Friday reported an increase of 47.32 per cent in its consolidated net profit at Rs 2,613.75 crore for the fourth quarter ended March 2022, led by improved demand situation and effective capacity utilisation.
Its revenue from operations for the financial year ended on March 31, 2022, was at Rs 52,598.83 crore.
As per the company, UltraTech Cement has now become a Rs 50,000 crore turnover company and the first Indian cement company to achieve this milestone.
The leading cement producer had posted a net profit of Rs 1,774.13 crore in the January-March quarter a year ago, UltraTech Cement said in a regulatory filing.
Its revenue from operations was up 9.45 per cent to Rs 15,767.28 crore during the quarter under review, as against Rs 14,405.61 crore of the corresponding quarter a year ago.
''After a slow start to the quarter, demand improved month-on-month, driven by an improvement in the government's various project execution,'' said UltraTech in the earnings statement.
During the quarter UltraTech's consolidated sales volume was at 27.69 MnT (million Tons).
While input cost inflation remains a concern with the rise in fuel and diesel prices, it added.
''The company saw an increase in energy cost by 48 per cent, with prices of pet coke and coal doubling during the period. Raw material costs increased 7 per cent on account of the increase in the cost of fly ash, bauxite, gypsum and HSD. The Company's efforts towards prudent working capital management and control on cash flows continued relentlessly,'' UltraTech Cement said.
During the quarter UltraTech achieved effective capacity utilisation of 90 per cent.
UltraTech Cement's total expenses were at Rs 13,604.20 crore, up 15.38 per cent in Q4/FY 2021-22 as against Rs 11,790.41 crore.
For the fiscal year ended March 2022, UltraTech Cement's consolidated net profit was up 34.28 per cent to Rs 7,334.26 crore. It had reported a net profit of Rs 5,461.85 crore in the previous year.
Its revenue from operations was Rs 52,598.83 crore in 2021-22. This is 17.60 per cent higher than Rs 44,725.80 crore of FY 2020-21.
UltraTech said ''volume grew 8.8 per cent 93.99 MnT '' in FY22, the company said in a post result investors' presentation.
Meanwhile, in a separate filing, UltraTech said its board in a meeting held on Friday recommended a dividend of Rs 38 per equity share of Rs 10 each for FY 22.
However, this would be subject to the approval of shareholders at the ensuing Annual General Meeting of the company, it added.
Over CAPEX, UltraTech said its current expansion program is on track and estimated to be completed by the end of FY23.
UltraTech's capital and financial resources remain fully protected and its liquidity position is adequately covered, it added.
Over the outlook, UltraTech said: ''rural and urban demand is also expected to pick up going forward. All of this augurs well for the company''.
Shares of UltraTech Cement Ltd on Friday closed at Rs 6,629 on BSE, up 0.25 per cent from the previous close.
(With inputs from PTI)