UltraTech Cement Q2 web slides 42% to ₹756 crore

The corporate reported a consolidated web gross sales of ₹13,596 crore as in comparison with ₹11,743 crore in the identical interval final yr, up 16%

The corporate reported a consolidated web gross sales of ₹13,596 crore as in comparison with ₹11,743 crore in the identical interval final yr, up 16%

UltraTech Cement Ltd. reported a 42% drop in consolidated web revenue for the second quarter to ₹756 crore from the year-earlier interval on account of an increase in expenditure and decrease demand. 

“The second quarter is historically a weak one for the cement sector, with decrease demand as development exercise slows down on account of the monsoons. Demand was low throughout July and August, displaying some signal of revival in September,” the corporate mentioned in a submitting.

“Decide-up in retail demand was on the again of pent-up demand accumulation throughout the monsoons, pre-Diwali development and restore work gaining momentum, and pre-election tailwinds. Institutional demand was led by elevated development exercise after the receding monsoons,” it mentioned. 

Throughout the quarter, the corporate reported a consolidated web gross sales of ₹13,596 crore as in comparison with ₹11,743 crore in the identical interval final yr, up 16%. 

The corporate mentioned vitality value elevated 58% and uncooked materials value rose 18% yr on yr, It achieved capability utilisation of 76% as towards 71% throughout Q2FY22. 

By- The Hindu

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