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India’s largest cement maker Ultratech Cement on Friday reported a consolidated net profit of ₹2,620 crore for the quarter ended March 2022, up 47.6% year on year. The Aditya Birla Group company had recorded a profit of ₹1,775 crore in the previous year period.

The company’s net sales reached ₹15,557 crore in the quarter, compared to ₹14,232 crore in the corresponding period last year.

For the full year, consolidated net sales amounted to ₹51,708 crore from ₹44,239 crore the previous year.

The cement maker warned that input cost inflation remains a concern with rising fuel prices. “After a slow start to the quarter, demand improved month-on-month, driven by improved execution of various government projects. Inflation in input costs remains a concern with the rising fuel and diesel prices,” he said.

The company saw its energy costs increase by 48%, as petroleum coke and coal prices doubled during the period. Raw material cost increased by 7% due to increased cost of fly ash, bauxite, gypsum, etc.

Ultratech said it achieved effective capacity utilization of 90% in the quarter.

The company’s board has also recommended a dividend of ₹38 per share of ₹10 each, totaling ₹1,096 crore, for the financial year ending March 2022, subject to shareholder approval.

The company said rural and urban demand is expected to increase in the future. “UltraTech’s capital and financial resources remain fully protected and its liquidity position is adequately covered. Most importantly, it continues to remain committed to all of its business partners,” it said in its release. hurry.

On Thursday, rival Ambuja Cement reported a 25.56% year-on-year fall in standalone net profit to ₹495 crore in the fourth quarter.

The Holcim-owned cement maker’s net sales were ₹3,855 crore in the quarter, up from 3,579 crore a year ago. Sales volume for the quarter was 7.49 million tons, compared to 7.24 million tons in the corresponding quarter last year. Operating EBIT margin fell to 16.6% in the fourth quarter from 23.8% in the same quarter last year.

The Swiss-based company promoter is said to be in talks with buyers to sell its two India-listed cement plants – ACC and Ambuja Cement.

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