According to data compiled by Mint for 31 companies, net profit in Q3 rose 3.7 times from the September quarter. However, raw material and energy prices in the December quarter remained volatile, but overall cost pressure eased compared to the previous quarter. The revenues of cement companies were significantly boosted by double digit volume growth, but cement prices grew in single digits. Ambuja Cements, UltraTech Cement, Dalmia Bharat and Shree Cements posted volume growth of 8-22% from a year ago.
The all-India average cement price fora 50-kg bag at about 359 was up 3% sequentially in 3QFY23, and rose 6% from a year ago led by a 4-8% price rise in western, southern and eastern India, according to analysts.
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