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News UltraTech Cement's first-half 2023 financial year results show profit decline despite sales growth

UltraTech Cement's first-half 2023 financial year results show profit decline despite sales growth

Written by Global Cement staff 20 October 2022
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India: UltraTech Cement's consolidated sales were US$3.51bn during the first half of the 2023 financial year, which began on 1 April 2022, up by 22% from US$2.88bn in the first half of the 2022 financial year. Its net profit was US$283m, down by 22% year-on-year from US$363m. This was due to a 32% cost rise to US$3.13bn from US$2.38bn. Power and fuel contributed 32% of costs at US$1bn, up by 68% from US$598m in the first half of the 2021 financial year.

UltraTech Cement said that it began to see signs of cement demand revival in September 2022, following traditionally subdued second-quarter demand due to seasonal rains.

Last modified on 26 October 2022
Published in Global Cement News
Tagged under
  • Aditya Birla
  • India
  • UltraTech Cement
  • Results
  • Energy
  • Electricity
  • fossil fuels
  • costs
  • demand
  • Consumption
  • Monsoon
  • market
  • GCW580

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