UltraTech Cement’s net revenue at Rs 1,700 crore in Q1 FY22

Cement major UltraTech Cement has reported a net profit of Rs Rs 1,700 crore in Q1 FY22 compared to its net profit of 793.08 crore in the April-June quarter of the previous year. Its profit from services was higher 54.21% to Rs 11,829.84 crore throughout the quarter under review, compared to Rs 7,671.05 crore in the corresponding period of FY21. UltraTech's entire expenses were at Rs 9,508.26 crore, 43.22% higher, in Q1 FY22 compared to Rs 6,638.90 crore. During the quarter, its total sales volume was at 21.53 million metric tonne (mt), recording a growth of 47% year-on-year. The cement firms continue to maintain firm control on cash flow and cost, including a centre on operational efficiencies. While sharing updates about the Covid-19 pandemic, the firm told the media that the destructive second wave affected the cement demand marginally. UltraTech revealed while updating the capex that the firm's development programme is on track and expected to be completed by the end of FY23. The capacity will be increased to 136.25 mt after completion. The company expects to commission each project according to the original schedule. UltraTech said with predictions of a possible third wave, it is strictly observing the situation. Although, it continues to be cautiously optimistic, given its inherent financial and operational resources and the continuing thrust of the government on infrastructure projects and housing construction. Shares of UltraTech Cement ended at Rs 7,459.85 on the Bombay Stock Exchange (BSE), 0.49% higher than the last close. Image Source Also read: Cement volume registers 20% growth recovery in June: Ind-Ra Also read: ICRA revises cement growth outlook for FY22