UltraTech Cement profit drops 10 percent in Q1 but surges 49 percent year on year

UltraTech Cement delivered quarterly earnings of Rs 2,220.91 crore, declining 10.26 percent sequentially but surging 49 percent annually amid strong performance. Operating revenue reached Rs 21,275.45 crore while volume sales climbed 9.7 percent yearly to 36.83 million tonnes through recent acquisitions of India Cements and Kesoram Industries cement operations. EBITDA expanded 44 percent to Rs 4,591 crore as operating margins improved to 21 percent from 16 percent previously, supported by regional price strength in southern and eastern markets. Share prices gained 0.5 percent to close at Rs 12,561 following the earnings announcement despite facing regulatory scrutiny reports regarding alleged cartelisation through its subsidiary. The cement manufacturer dismissed Competition Commission investigation claims as false and misleading through official stock exchange communications after ONGC raised collusion concerns during tender processes.