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<ul><li>UltraTech Cement’s revenue from operations for the quarter rose 18% at ₹18,662 crore from ₹15,767 crore in the year-ago quarter.</li><li>UltraTech Cement’s board has recommended a dividend of ₹38 per equity share aggregating to ₹1,097 crore.</li><li>During the quarter, the cement maker saw an increase in energy cost by 17% on year and 4% lower sequentially.</li></ul>UltraTech Cement’s Q4 net profit fell 32% to ₹1,666 crore as compared to ₹2,461 crore in the same quarter last year. Meanwhile, its revenue from operations for the quarter rose 18% to ₹18,662 crore from ₹15,767 crore Q4 FY22, the company said in a regulatory filing. During the quarter, the cement maker saw its energy costs increase by 17%, and prices of pet coke and coal too increased 18% on a yearly basis. Raw material cost was up 9% on year on account of increase in cost of fly ash, slag and gypsum etc. Adding to it, the company’s tax expense also rose in Q4 to ₹800 crore as compared to tax credit of ₹139 crore in the same quarter last year. UltraTech Cement’s board recommended a dividend of ₹38 per equity share aggregating to ₹1,097 crore. The cement maker’s rival ACC also reported a decline in its profitability with a 40% fall in net profit to ₹235 crore for March quarter, on Thursday. Ultratech said it has achieved 100 million tons of production, dispatches and sales in FY23. This was backed by an effective capacity utilization of 95% during this quarter and 84% capacity utilization for the year. Total sales volume for the quarter rose 15% on year and 23% sequentially at 31.7 million tons. Financial performance in March quarter <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q4 FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q4 FY22 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net sales </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹18,436 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹15,557 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,666 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,461 crore </td></tr></tbody></table> Ahead of the earnings, the company’s share price closed 0.52% higher at ₹7,540 per share. UltraTech Cement mentioned that the expansion programme is progressing as per schedule. During the year, it commissioned 12.4 mtpa (million tonne per annum) additional capacity of grey cement. It further commissioned a 2.2 mtpa brownfield cement capacity at Patliputra in April, 23. Work on its next phase of growth of 22.6 mtpa has already commenced. “Civil work is in full swing at most sites. Commercial production from these new capacities is expected to go on stream in a phased manner by FY25/FY26. Upon completion of these expansions, the Company's capacity will grow to 160.45 mtpa, reinforcing its position as the third largest cement company in the world, outside of China and the largest in India by far,” it said in the exchange filing. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/axis-bank-under-pressure-after-reporting-net-loss-in-q4/articleshow/99840323.cms">Axis Bank shares under pressure after Q4 net loss; analysts upbeat on the lender</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/wipro-says-it-services-revenue-could-decline-1-3-in-q1fy24-announces-buyback/articleshow/99809050.cms">Wipro says IT services revenue could decline 1-3% in Q1FY24, announces buyback</a>

UltraTech Cement’s Q4 net profit falls 32% to ₹1,666 crore, declares dividend

Mumbai, Rising for the second straight session, equity benchmark Sensex climbed 142 points on Thursday following buying in IT and finance stocks amid a positive trend in global markets. After a see-saw session, the 30-share BSE Sensex ended 142.43 points or 0.23 per cent higher at 60,806.22. During the day, the index witnessed a high of 60,863.63 and a low of 60,472.81. The broader <keyword id="372424" type="General" weightage="50" keywordseo="nse-nifty" source="Orion">NSE Nifty</keyword> advanced 21.75 points or 0.12 per cent to finish at 17,893.45. <keyword id="85462" type="General" weightage="50" keywordseo="bajaj-finserv" source="Orion">Bajaj Finserv</keyword> topped the Sensex gainers' chart, rising 2.30 per cent, followed by Asian Paints, Infosys, Bajaj Finance, IndusInd Bank, L&amp;T and TCS. In contrast, Bharti Airtel, <keyword id="6355596" type="General" weightage="50" keywordseo="ultratech-cement" source="Orion">UltraTech Cement</keyword>, <keyword id="42747" type="General" weightage="50" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>, <keyword id="44642" type="General" weightage="50" keywordseo="sun-pharma" source="Orion">Sun Pharma</keyword>, HDFC and Axis Bank were among the laggards, shedding up to 1.03 per cent. The market breadth was positive, with 18 advances and 12 declines. "Traders mostly remained on the sidelines in the absence of any fresh positive triggers, as worries of global slowdown and no signs of any pause on global rate hike cycle continued to weigh on the sentiment. "Although markets were range-bound with a positive bias, fluctuation in the market could continue in the near term," said <keyword id="131488" type="General" weightage="50" keywordseo="shrikant-chouhan" source="Orion">Shrikant Chouhan</keyword>, Head of Equity Research (Retail), Kotak Securities Ltd. In the broader market, the BSE midcap gauge slipped 0.01 per cent and the smallcap index dipped 0.15 per cent. Among sectoral indices, IT climbed 0.88 per cent, technology 0.71 per cent, industrials (0.36 per cent) and Capital Goods (0.26 per cent). Power, telecommunications commodities and realty were among the losers. Markets closed higher for the second consecutive session, aided by buying in IT stocks and despite volatility in Adani group stocks following MSCI review of their free float weights in their indices, said <keyword id="161383" type="General" weightage="50" keywordseo="deepak-jasani" source="Orion">Deepak Jasani</keyword>, Head of Retail Research, HDFC Securities. European stocks rose, after touching nine-month highs on Wednesday as investors pinned hopes on peaking inflation and a major recession now looking less likely on the continent, Jasani added. "Any more-than-expected negative outcome of the MSCI review meeting on Adani company weights in their indices could result in a lower opening of Nifty on Friday," Jasani said. Shares of Adani Power fell 5 per cent to close at 172.90 apiece on BSE after the company on Wednesday reported a 96 per cent decline in consolidated net profit at Rs 8.77 crore for the December quarter. Edible oil major Adani Wilmar Ltd jumped 5 per cent to end at 440.30 per scrip. It has reported a 16 per cent increase in consolidated profit to Rs 246.16 crore for the third quarter. Adani Group's flagship Adani Enterprises crashed 10.72 per cent to settle Rs 1,927.30. Adani Ports and Special Economic Zone dropped 2.90 per cent to Rs 582.05. Adani Transmission and Adani Total Gas witnessed a fall of 5 per cent each, while Adani Green Energy fell 4.96 per cent. The scrip of Ambuja Cements slipped 6.86 per cent to Rs 358, NDTV fell 4.92 per cent to Rs 216.55 and ACC dipped 2.91 per cent to Rs 1,915.95 on the exchange. Elsewhere in Asia, markets in Seoul, Shanghai and Hong Kong ended with gains, while Tokyo settled in the red. However, equity exchanges in Europe were trading in the positive territory in the afternoon session. Wall Street had ended lower in the overnight session. The rupee closed flat at 82.54 against the US dollar on Thursday. International oil benchmark Brent crude was trading 0.29 per cent higher at USD 85.34 per barrel. Foreign Institutional Investors (FIIs) were net sellers in capital markets as they offloaded shares worth Rs 736.82 crore on Wednesday, according to exchange data.

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UltraTech Cement’s Q4 net profit falls 32% to ₹1,666 crore, declares dividend

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