 "UltraTech Q1 net profit falls 7% to Rs 1,582.02 cr; net sales rise 28%")
Aditya Birla group firm UltraTech Cement on Friday reported a decline of 6.94 per cent in its consolidated net profit at Rs 1,582.02 crore in the June 2022 quarter, impacted by inflationary trends.
The company had posted a net profit of Rs 1,700.03 crore in the April-June period a year ago, UltraTech Cement said in a BSE filing.
Its revenue from operations was up 28.18 per cent to Rs 15,163.98 crore during the quarter under review as against Rs 11,829.84 crore in the corresponding period of the last fiscal.
"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," said UltraTech Cement in its earnings statement.
The company's total expenses were at Rs 12,980.06 crore, up 36.51 per cent in Q1 FY23 as against Rs 9,508.26 crore.
Shares of UltraTech Cement Ltd were trading at Rs 6,398.80 on BSE on Friday, up 4.40 per cent from the previous close.
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