UltraTech Cement Ltd reports net sales of INR150,070m in 1QFY23

UltraTech Cement Ltd (Aditya Birla Group) has announced its financial results for the quarter ended 30 June 2022 with consolidated net sales of INR150,070m (US$1.88bn) versus INR116,980m over the corresponding period of the previous year. 

After a strong end to FY22, cement demand was impacted by overall inflationary trends and lower labour availability in May 2022. However, cement demand picked up in June 2022 on pre-monsoon construction activity. 

Profit before interest, depreciation and tax was INR32,040m compared to INR35,120m. Profit before tax was INR22,930m and profit after tax was INR15,840m compared to INR25,260m and INR17,030m, respectively. 

The company achieved capacity utilisation of 83 per cent as against 73 per cent during 1QFY2022. Domestic sales volume grew 19 per cent YoY.

UltraTech Cement has started its 18MW of waste heat recovery system (WHRS) capacity during the quarter. With this, the company’s total WHRS capacity stands augmented to 185MW covering nearly ~16 per cent of its current power needs. This is expected to increase to 250MW by the end of FY23.