The company recorded consolidated net sales of ₹13,596 crore as compared to ₹11,743 crore in the corresponding period last year, up 16%
The company recorded consolidated net sales of ₹13,596 crore as compared to ₹11,743 crore in the corresponding period last year, up 16%
UltraTech Cement Ltd reported a 42% drop in consolidated net profit for the second quarter to ₹756 crore from the year-ago period on account of increase in expenditure and lower demand.
“The second quarter has traditionally been a weak one for the cement sector, with low demand as construction activity slows down due to the monsoon. Demand was low during July and August, showing some signs of revival in September,” the company said in a filing.
“The pick-up in retail demand was on account of stalled demand growth during monsoon, spurt in pre-Diwali construction and repair work and pre-poll tailwinds. Institutional demand was led by an increase in construction activity following a dwindling monsoon.
During the quarter, the company registered a growth of 16% at ₹13,596 crore as compared to ₹11,743 crore in the corresponding period of the previous year.
With energy costs up 58% and raw material costs up 18% year-on-year, the company said it achieved a capacity utilization of 76% against 71% during Q2FY22.