UltraTech Cement on Wednesday reported a 42.46 per cent year-on-year (YoY) drop in consolidated net profit at Rs 756 crore for the September quarter compared with Rs 1,314 crore in the same quarter last year.
On a sequential basis, consolidated profit was down 9.4 per cent.
Energy cost jumped 58 per cent YoY, raw material cost climbed 18 per cent YoY while logistics cost was also up 2 per cent YoY, the company said in a BSE filing.
The consolidated net sales for the quarter rose 15.80 per cent YoY to Rs 13,596 crore compared with Rs 11,743 crore in the year-ago quarter. On a quarter-on-quarter (QoQ) basis, sales fell 52.3 per cent.
Operating margin dropped significantly to 14 per cent, mainly on account of higher energy costs and decline in realisation.
Domestic sales volume grew 10 per cent YoY, with capacity utilisation of 76 per cent, UltraTech Cement said in a BSE filing. The ready mix concrete (RMC) business registered volume growth of 29 per cent for the quarter on YoY basis. Premium products contributed to 18.8 per cent of trade sales volume.
Ebitda for the quarter declined 29.5 per cent YoY to Rs 2,013 crore.
Meanwhile, net debt surged to Rs 8,357 crore from Rs 5,561 crore in the June quarter, primarily on account of increase in working capital and growth capex.