NEW DELHI: UltraTech Cement Limited on Monday reported consolidated profit after tax (PAT) of Rs 1,313.53 crore for the quarter ended September 2021, down by 23% from Rs 1,702.63 crore reported in the June quarter.
On a year-on-year (YOY) basis, PAT grew by 13%. “Coal and pet coke prices nearly doubled in Q2FY22 resulting in energy costs rising by 17% YoY. The resulting impact on the company’s operations was partially offset by reduction in power consumption and continuing focus on operational efficiencies,” Ultratech said in a statement.
The Mumbai-based company’s consolidated revenue came in at Rs 12,017 crore, up by 1.6% sequentially and 15.7% YoY. Operating margins were down 370 basis points (bps) on a sequential basis and by 130 bps on a YoY basis due to rising costs.