UltraTech Cement rises after commissioning new cement capacities

UltraTech Cement gained 2.50% to Rs 7,348.85 after the company announced the commissioning of cement capacities in Chhattisgarh and Odisha.

The cement major said that it has commissioned 1.30 million tonnes per annum (mtpa) brownfield cement capacity at Hirmi in Chhattisgarh.

It has also commissioned 2.80 mtpa greenfield grinding capacity at Cuttack in Odisha.

This forms part of the on-going capacity expansion, said the company.

With this, the company's total cement manufacturing capacity in India stood at 126.95 mtpa.

UltraTech Cement is the cement flagship company of the Aditya Birla Group. It is the third largest cement producer in the world, outside of China, with a consolidated Grey Cement capacity of 126.75 mtpa.

The cement major's consolidated net profit (from continuing operations) tumbled 38.03% to Rs 1,058.20 crore in Q3 FY23 as against Rs 1,707.72 crore posted in Q3 FY22. Revenue from operations jumped 19.5% to Rs 15,520.93 crore in the quarter ended 31 December 2022 from Rs 12,984.93 crore recorded in the same period a year ago.

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