Cement sector giant UltraTech Cement has reduced profit in the fourth quarter ended March (UltraTech Cement Q4 Results). The company’s profit fell 36 percent to Rs 1,666 crore. Whereas, there has been an increase of 18 percent in the revenue. UltraTech Cement has declared a dividend of Rs 38 per share.
UltraTech Cement has released its fourth quarter results ending March 2023. According to the fourth quarter figures, UltraTech Cement’s consolidated net profit fell 36 per cent to Rs 1,666 crore. It was Rs 2,620 crore in the same period last year. During the fourth quarter, the revenue increased by 18% to Rs 18,562 crore. The revenue in the same period last year was Rs 15,767 crore.
The board of UltraTech Cement has recommended a dividend of Rs 38 per equity share of Rs 10 each for the year ending March 2023. This decision of the company will benefit the shareholders.
UltraTech Cement’s EBITDA for the fourth quarter stood at Rs 3,444 crore, up 9 per cent over the same period last year. Operationally, the total consolidated sales volume for the March quarter stood at 31.7 million tonnes, registering a growth of 14 per cent year-on-year and 22 per cent sequentially. Domestic sales volume for the fourth quarter increased 15 percent to 30.5 million with capacity utilization at 95 percent.
Gray cement in the domestic segment grew 15 per cent year-on-year to 29.9 million tonnes, while it declined 2 per cent to 1.3 million tonnes in the overseas segment. The quantity of white cement stood at 0.5 million tonnes, which is 19 per cent higher than the previous year. UltraTech has commissioned a cement capacity of 5.6 MTPA during the quarter, taking the company’s total gray cement capacity in India to 126.95 MTPA.
The readymix concrete (RMC) network of the company has grown to 231 plants spread over 100 cities. UltraTech’s trade mix for the quarter stood at 66 per cent and blended cement at 69 per cent. On the other hand, in view of the fourth quarter results, UltraTech Cement’s stock closed at Rs 7,540 per share with an increase of 0.52 per cent in the stock market on Friday.