Construction Industry News
UltraTech Cement, India's largest cement producer, had commissioned the brownfield cement capacity of 1.2 million tons per year (mtpa) in Magdalla, Gujarat.
It was stated that the new addition resulted in the total capacity of the unit reaching 1.93 mtpa. Moreover, UltraTech Cement informed the exchanges that the total production capacity of grey cement in India had now reached 132.45 mtpa.
In the previous month, UltraTech Cement had reported robust revenue and earnings growth for the quarter ended June 2023, beating analyst estimates.
The company had reported a net profit of Rs 16.90 billion for the quarter, which was 7% higher than the net profit of Rs 15.82 billion reported in the same quarter of the previous year.
In addition, revenue was up 17% in the reporting quarter, representing Rs 177.37 billion compared to Rs 151.63 billion reported in Q1 FY23.
UltraTech Cement had said that domestic sales volume had increased by 20 percent year-on-year in the June quarter, with an occupancy rate of 89%.
The company had also added that demand for cement remained strong across all sectors, which was very favorable for performance. Moreover, higher infrastructure spending in the run-up to the 2024 general election was expected to further boost cement demand during the current fiscal year.
232
389
1790
2166
17689
35397
370
510
499
989
343
949
299
599
89
249
1550
4175
349
689
