UltraTech Cement Q1 Results 2024: Marginal Profit Increase
NEW DELHI: UltraTech Cement Ltd, a prominent cement manufacturer under the Aditya Birla Group, reported a consolidated net profit of ₹1,696.59 crore for the first quarter ending June 2024, showing a marginal increase from ₹1,688.45 crore during the same period the previous year.The UltraTech Cement Q1 Results 2024 also highlighted that the company’s revenue from operations rose by 1.87% to ₹18,069.56 crore, up from ₹17,737.10 crore in the corresponding quarter of the previous year.
The total expenses for the quarter amounted to ₹16,128.37 crore, representing a 3.07% rise compared to the previous year. This rise in expenses was primarily driven by higher costs in logistics and other operational areas. UltraTech Cement’s total income for the quarter stood at ₹18,235.30 crore, reflecting a 1.81% increase from ₹17,911.10 crore in the same quarter last year.
Despite the revenue growth, UltraTech Cement’s shares experienced a decline in the stock market. During the post-lunch session on the Bombay Stock Exchange (BSE), the shares were trading at ₹11,295.65, down by 3.05% from the previous close. This market reaction indicates investor concerns over the company’s flat profit growth amidst rising expenses.
The cement industry faced several challenges during the quarter, including a slowdown in demand due to general elections, labor shortages, and extreme weather conditions. These factors contributed to a decrease in cement sales and impacted overall profitability. UltraTech Cement’s Q1 financial performance reflects the broader challenges faced by the industry, highlighting the need for strategic cost management and operational efficiency in the coming quarters.
Read more: JK Cement Q1 Profit Soars 67% to Rs 184.82 Crore
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