Cement major UltraTech on Monday reported a 36% fall in its consolidated net profit, which stood at Rs 820 crore for the quarter ended September 2024, compared to Rs 1,281 crore a year ago.
The profit also missed Street estimates of Rs 956 crore. Revenue from operations declined 2% year-on-year (YoY) to Rs 15,635 crore.
On a sequential basis, net profit after tax dropped 52% from Rs 1,697 crore clocked in the preceding June quarter. Revenues, meanwhile, fell 13% quarter-on-quarter (QoQ).
The company clocked an EBITDA of Rs 2,018 crore for the September quarter, which is a fall of 18% YoY. Margins for the quarter came in at 12.9%.
Operationally, domestic sales volume for the July-September 2024 period grew 3% YoY to 26.4 million tons, of which grey cement domestic volume was up 3% YoY to 25.75 million tons.
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UBS outlets increased to 4,236 contributing 19.4% of domestic grey sales volume.
The overseas volume increased 40% YoY to 1.66 million tons, taking the total consolidated volume higher by 4% YoY at 27.84 million tons.
Blended manufacturing cost per mt during the quarter reduced by 4% YoY for domestic operations. The domestic operating EBITDA per Mt was at Rs 732, lower by Rs 224 per Mt YoY.
The green power mix at the end of the September quarter stood at 32%, which is an improvement of 47% YoY, including WHRS power mix of 18.4% and RE Power Mix of 13.5%.
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On Monday, Ultratech shares were trading 1.06% higher at Rs 10,951.6 on NSE.
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