UltraTech Cement shares gain over 5 percent on Q3 earnings boost
Shares of UltraTech Cement on Monday gained over 5 per cent after the company more than doubled its consolidated net profit in the October-December quarter of FY2021. The stock jumped 5.40 per cent to a one-year high of Rs 5,829.90 on the BSE.
On the NSE, it gained 5.36 per cent to its 52-week high of Rs 5,831.80.
Aditya Birla group firm UltraTech Cement on Saturday reported over two-fold jump in consolidated net profit at Rs 1,584.58 crore in the December quarter.
The leading cement producer had posted a net profit of Rs 711.17 crore in the October-December quarter a year ago, UltraTech Cement said in a BSE filing.
Its revenue from operations stood at Rs 12,254.12 crore, up 17.38 per cent, during the quarter under review as against Rs 10,439.34 crore in the corresponding period of the last fiscal.
UltraTech Cement's total expenses were at Rs 10,190.03 crore in the third quarter of financial year 2020-21, as against Rs 9,611.08 crore, down 6.29 per cent.
During the quarter, it had a volume growth of 14 per cent to 22.82 million tonnes, it said.
"Recovery from the COVID-19 led to the disruption of the economy. This has been fuelled by quicker demand stabilisation, supply-side restoration and greater cost efficiencies," UltraTech Cement said in a post earning statement.
