Ultratech Cement results declared. Net profit jumps 69%, total income jumps 15%

livemint.com:

Q2 results 2023 today: Ultratech Cement has declared its second quarter results for the current fiscal. The cement major has reported net profit at ₹1,280.38 crore against the net profit of ₹758.70 crore in corresponding period in previous financial year, logging near 69 per cent year-on-year (YoY) rise in recently ended September 2023 quarter. The Indian cement major reported total income of ₹16,179.26 crore, near 15.20 per cent higher from its total income in the corresponding period in previous financial year.

Company's revenue from operations stood at ₹16,012.13 crore in Q2FY24, which stood at ₹13,892.69 crore in Q2FY23. This means Ultratech Cement posted 15.20 per cent rise in revenue from operations on YoY basis. In H1-FY24, Ultratech Cement reported net profit of ₹2,970.60 crore, logging 26.9 per cent rise against net profit of ₹2,340.72 crore in H-1FY23.

However, company's expenses have also gone up over the period. In Q2FY24, Ultratech Cement reported total expense at ₹14,493.01 crore, which is 12.05 per cent higher from total expense of ₹12,934.27 crore reported in Q2FY23. so, comparing this with the peroformance on income front, the company has managed to improve its margins.

Ultratech Cement has reported that its total comprehensive income stood at ₹1,290.41 crore in second quarter of the current financial whereas its total comprehensive income in the corresponding period in previous financial year was at ₹680.58 crore. This means, company's total comprehensive income has risen around 90 per cent on YoY-basis. In H-1FY24, company's total comprehensive income stood at ₹2,992.20 crore, which stood at ₹2,216.12 crore in H-1FY23.