Udaipur Cement Works Ltd has reported revenue from operations of INR10,322.6m (US$125.6m) in the year ended 31 March 2023. This compares to INR8811m in the same period a year earlier. Net profit over the same timeframe has fallen from INR486.6m to INR358.6m with total expenses expanding from INR8126.9m to INR9817.8m, driven by higher power and fuel costs. Earnings per share in the year ended 31 March 2023 came in at INR1.15, down from INR1.56 in the previous year.
In the quarter ending 31 March 2023, revenue from operations stood at INR2946.4m, up from INR2544.1m in the same quarter a year earlier. Net profit over the 2023 quarter came in at INR168.9m, up marginally from the INR162.2m reported in the quarter ended 31 March 2022. Total expenses also advanced, up from INR2285m to INR2709.3m, again driven by rising power and fuel costs, which expanded from INR626.6m in the 2022 quarter to INR913.7m a year later. Earnings per share over the same period increased from INR0.52 to INR0.54.
During the quarter ended 31 March 2023, the company successfully commissioned a 1MW floating solar power plant, the first of its kind in the Indian cement industry. This has resulted in renewable energy now meeting 48 per cent of the company’s total power requirements.
