Ultratech Cement Rises 2% On Doubling In Q3 Net Profit

UltraTech Cement's net profit more than doubled to Rs 1,584.58 crore in the third quarter ended December 31, 2020 from Rs 711.17 crore in the year-ago period, UltraTech Cement said in a BSE regulatory filing

Ultratech Cement Rises 2% On Doubling In Q3 Net Profit

The company's revenue from operations stood at Rs 12,254.12 during the October-December quarter

Ultratech Cement shares rose more than 2 per cent on the BSE after the cement producer's net profit more than doubled in the quarter ended December 31, 2020. Aditya Birla group's UltraTech Cement on Saturday, January 23, reported over two-fold jump in consolidated net profit to Rs 1,584.58 crore in the third quarter of the financial year. At 9:55 am. the shares of Ultratech Cement were trading at Rs 5650, higher by Rs 119.80 or 2.17 per cent on the BSE.

The leading cement producer had reported a net profit of Rs 711.17 crore in the year-ago period, UltraTech Cement said in a BSE regulatory filing. The company's revenue from operations stood at Rs 12,254.12 crore, up 17.38 per cent, during the October-December quarter under review compared to Rs 10,439.34 crore in the corresponding period of the last fiscal year.

UltraTech Cement's total expenses were at Rs 10,190.03 crore in the third quarter of the financial year, as compared to Rs9,611.08 crore, down 6.29 per cent.

The BSE Sensex was trading at 48m,659.45, lower by 158 points or 0.26 per cent and the NSE Nifty was at 145,341, down 32.55 points or 0.25 per cent at the time.