UltraTech Cement net profit down 32% to ₹1,665 crore, revenue up 18%

UltraTech Cement has announced the results of Q4FY23 i.e. the fourth quarter (January-March) on Friday (April 28). The company's consolidated net profit for the quarter declined 32.29% year-on-year (YoY) to Rs 1,665.95 crore.
In the same quarter last year, the company registered a net profit of Rs 2,460.51 crore. The company's revenue in Q4 increased by 18.36% to Rs 18,662.38 crore. It was Rs 15,767.28 crore in the same period of the last financial year.
UltraTech Cement said that the company has registered 10 crore production, dispatches and sales in FY-23. Behind this was the support of 95% capacity utilization. The capacity utilization stood at 95% in the March quarter and 84% during the last financial year. The company's volume growth stood at 15%.
The company's energy cost increased by 17% on a year-on-year basis. While it declined by 4% on a quarter-on-quarter basis. Petroleum coke and coal prices were higher by 18% on a year-on-year basis. The raw material costs jumped 9% due to an increase in prices of raw materials like fly ash, slag and gypsum.
The Board of Directors of the company, in its meeting held on 28 April, has recommended a dividend of Rs 38 per equity share. The company has told in the release that the expansion program of the company is going on as per the schedule. The company added 12.4 MTPA (enum per million tonnes) of gray cement capacity in FY23. It has also expanded the capacity of its brownfield cement plant at Patliputra by 2.2 MTPA in April 2023.