UltraTech Cement reports a 35% increase in Q4 profit to ₹2,258 cr; stock rises by 3%

UltraTech Cement, one of India’s leading cement companies, has reported a stellar performance in the March quarter of FY24, with a 35.5% year-on-year increase in its consolidated net profit to ₹2,258 crore. This growth is attributed to the company’s strong revenue growth, which stood at ₹20,418.94 crore during the quarter, up 9.4% from the previous year.

The company’s domestic sales of grey cement saw a 7% year-on-year growth to ₹17,716 crore, while exports of grey cement increased by 10% to ₹675 crore. Revenue from white cement also saw a significant increase of 8% year-on-year to ₹715 crore, and revenue from ReadyMix Concrete (RMC) was up 37% to ₹1,558 crore.

UltraTech Cement’s EBITDA for the quarter stood at ₹4,250 crore, reflecting a strong performance compared to the same period last year. For the full year, the company’s consolidated net profit after tax stood at ₹7,005 crore, up 38% from the previous year.

The company’s strong financial performance has been driven by factors such as strong cash flows, efficient cost management, and robust demand for cement across all sectors. UltraTech Cement remains optimistic about the future, expecting the demand for cement to continue remaining robust.

The market responded positively to UltraTech Cement’s performance, with the company’s share price ending 2.70% higher at ₹9,962.25. The company’s market capitalization stood at ₹2,87,607 crore, reflecting investor confidence in the company’s growth prospects.