The consolidated net profit of UltraTech Cement on Saturday reported a 122.56 percent jump at Rs 1,584.34 crore for the third quarter.
Ultratech Cement Ltd.’s profit doubled as there had been rapid recovery from the COVID-19 led disruption of the economy. This has been fueled by “quicker demand stabilization, supply side restoration and greater cost efficiencies”, the company said in a regulatory filing.
Consolidated revenue from operations rose 17 percent to Rs 12,254 crore as against Rs 10,439 crore in the year-ago period. The overall domestic sales volumes also shot up during the quarter with the total growth of 14 percent.
With the COVID-19 gradually fading, pent-up urban demand is expected to improve as the migrant workforce is set to be back on track. Rural and semi-urban housing continue to drive growth, aiding the incremental cement demand.