UltraTech studies a 114% soar in PAT at Rs 1,703 in Q1

Mumbai: on Thursday reported a record-high quarterly internet benefit at Rs 1,703 crore within the June quarter, with the bottom-line on the nation’s greatest producer of the principle development subject matter greater than doubling from the year-ago duration.

Net benefit within the June quarter of FY 21 used to be Rs 794 crore.

Net gross sales on the Aditya Birla Group flagship climbed 54 consistent with cent to Rs 11,698 crore, fuelled through pent-up call for and a low statistical base. It recorded a quantity expansion of 48 consistent with cent.

“After a rapid recovery from the Covid-19 led disruption of the economy during FY21, the economy was hit by an unexpectedly virulent second wave, which also marginally impacted cement demand,” Mumbai-based UltraTech mentioned in a observation.

Its manufacturing prices all over the quarter larger 11 consistent with cent YoY, basically because of upper gas costs. Effective capability usage used to be at 73 consistent with cent all over the quarter.

“The company continues to maintain tight control on costs and cash flow with a focus on operational efficiencies. This has enabled UltraTech to achieve an effective capacity utilisation of 73 per cent during the quarter as against 46 per cent in Q1FY21,” UltraTech mentioned in a observation.

EBITDA used to be at Rs 3,468 crore, towards Rs 2,302 crore ultimate yr. Net debt used to be recorded at Rs 5,984 crore, down from round Rs 14,000 crore in the similar duration ultimate yr. Net Debt to EBITDA used to be at 0.44 vs 1.6 ultimate yr.

In December, it introduced an funding of Rs 5,477 crore towards expanding capability through 12.8 million tonnes consistent with annum in a mixture of brownfield and greenfield tasks. The further capability will probably be created within the east, central and north areas of the rustic, the corporate had mentioned.

“The expansion program is on track and estimated to be completed by the end of FY23. On completion, the capacity will be augmented to 136.25 mt,” UltraTech mentioned.

The corporate additionally mentioned that Covid brought about some delays because of labour shortages and lockdowns. However, it expects to fee the entire tasks as consistent with the unique agenda.

“With projections of a likely third wave, the company is closely monitoring the situation. It remains cautiously optimistic, given its inherent financial and operational resources and the government’s continuing thrust on infrastructure activities and housing construction,” UltraTech mentioned.

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