UltraTech Cement Q3FY23 Results: Higher input costs drag profit and margins on YoY basis; in-line with estimates
Cement main UltrTech Cement claimed in-line earnings with Zee Small business estimates for the third quarter of the money year 2022-23(Q3FY23). The prime line grew calendar year-on-12 months (YoY) in double-digit as anticipated, even so, the base line declined YoY amid increased input prices in the December quarter.
The Aditya Birla Group cement major’s consolidated internet profit fell by virtually 10 for each cent to Rs 1,058 crore in Q3FY23 as compared to Rs 1,707 crore in the same quarter a year back. The decline in income resulted in a subdued margin for the quarter, UltraTech reported in its regulatory submitting.
The company’s margin dipped by 350 basis factors to 15.1 for every cent in Q3FY23 from 18.6 for every cent in the identical quarter yr ago. Zee Business had estimated margins around 15.4 per cent in Q3.
Gain and margins for the December quarter were mostly under pressure due to bigger strength and raw materials prices, which had been up 33 for every cent and 13 for each cent YoY, respectively, the firm explained in its earnings submitting, incorporating that they remained flat on a sequential basis.
According to Zee Business investigation, the cement huge approximated income would appear all around Rs 1093.7 crore in the Oct-December quarter.
Even though the revenue of the cement heavyweight jumped around 19.5 for every cent to Rs 15,520 crore in the 3-thirty day period time period of the October-December quarter of FY23 as towards Rs 12,984 crore in Q3FY22.
The best line of the cement agency was predicted to occur at Rs 15,505.5 crore by Zee Small business analysis.
Domestic grey cement gross sales volume rose 13 for each cent YoY and 12 for each cent quarter-on-quarter (QoQ), respectively, the company mentioned in its trade filing.
UltraTech achieved capability utilisation of 83 per cent as in opposition to 75 per cent throughout Q3FY22, it said.
“Given the government’s concentration on infrastructure advancement and the consequent mounting demand for city housing, the cement sector is poised for robust advancement in the coming years,” UltraTech Cement said whilst offering the outlook of the corporation.
