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April 30, 2024

UltraTech Cement Q4 Results: Profit After Tax Surges 35% to Rs 2,258 Cr, Revenue Up 9%

UltraTech Cement Limited has reported robust financial performance for the fourth quarter of the financial year 2023-24 (Q4FY24), with a significant surge in profit after tax (PAT) and revenue growth. The company’s consolidated net profit witnessed a remarkable year-on-year increase of 35.54%, reaching Rs 2,258.12 crore compared to Rs 1,665.95 crore in the same period last year (Q4FY23).

Sequentially, the PAT surged by 27.07% from Rs 1,776.98 crore in the previous quarter. The company’s revenue from operations also witnessed a healthy growth of 9.41% to Rs 20,418.94 crore in Q4FY24 compared to Rs 18,662.38 crore in the corresponding quarter of the previous year.

Total income for the quarter stood at Rs 20,554.55 crore, indicating a 9.42% increase from Rs 18,783.89 crore reported in the same quarter last year. On a quarter-on-quarter basis, the total income surged by 21.76%, from Rs 16,880.45 crore in Q3FY24.

For the entire financial year, UltraTech Cement reported a remarkable rise in net profit by 38.33%, amounting to Rs 7,005.00 crore compared to Rs 5,063.96 crore in FY23. The company’s revenue from operations for FY24 increased by 12.12% to Rs 70,908.14 crore compared to Rs 63,239.98 crore in the previous financial year.

Total income for the financial year also witnessed a growth of 12.20% at Rs 71,525.09 crore compared to Rs 63,743.06 crore reported in FY23. The company’s consistent growth trajectory underlines its strong operational performance and strategic positioning in the market.

In line with its impressive financial performance, UltraTech Cement announced an interim dividend of Rs 70 per share, showcasing its commitment to delivering value to its shareholders. This dividend reflects the company’s confidence in its financial position and outlook.

UltraTech Cement’s stock performance also reflected investor confidence ahead of the Q4FY24 results, with shares closing trading at Rs 9,970.85 on Monday. The positive financial results are expected to further boost investor sentiment and strengthen the company’s position in the cement industry.

The company’s continued focus on operational efficiency, cost management, and strategic investments has enabled it to navigate through challenges and capitalize on growth opportunities. With a strong balance sheet and resilient business model, UltraTech Cement is well-positioned to sustain its growth momentum and drive value for its stakeholders in the foreseeable future.

Jhumpa Lahiri

Jhumpa Lahiri

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