UltraTech Cement Q3 Results
On Saturday, Aditya Birla group firm UltraTech
Cement announced a 122.56 percent jump in its consolidated net profit for the
third quarter of fiscal year 2021 to Rs 1,584.6 crore as compared to Rs
711.2 crore in the corresponding quarter of last year. Ultratech Cement said in
the BSE filing.
The consolidated operating income of
the cement manufacturer during Q3FY21 increased by 17.4 percent to Rs 12,254.1
crore from Rs 10,439.3 crore. The total expenses were amounted to Rs 10,190
crore in the 3rd quarter of FY 2020-21 as against 6.3 percent down
to Rs 9,166 crore. A volume growth of 14 percent to 22.8 million tons was
witnessed during the quarter.
‘The disruption caused by Covid-19 is
recovering rapidly. This was fueled by faster recovery of demand, restoration
of the supply side and greater cost efficiencies,’ the company said in a
regulatory filing.
‘Although rural and semi-urban
housing continued to drive growth, incremental cement demand was supported by
pick-ups in government-led infrastructure. With the gradual return of the
migrant work force, pent-up urban demand is intended to increase,’ the company
statement said.
The additional capacity is being
built in the rapidly growing markets of the country's eastern, central and
northern regions, the company said. this expansion is in contrast to the 6.7
mpta capacity addition of the company in UP, Bihar and West Bengal that is
planned to be commissioned in a phased manner by FY22.