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UltraTech Cement Sheds Over 1% On Decline In March Quarter Net Profit

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UltraTech Cement Sheds Over 1% On Decline In March Quarter Net Profit

At 12:05 pm, UltraTech Cement shares were trading lower by 1.31 per cent on BSE

UltraTech Cement shares shed more than 1 per cent on the BSE in early-noon trading after the Aditya Birla group company reported a decline in net profit in the fourth quarter ended March 2021. At 12:05 pm, the shares of UltraTech Cement were trading at Rs 6,400, lower by Rs 84 or 1.31 per cent, on the BSE.

UltraTech Cement reported a net profit of Rs 1.775 crore in the January-March quarter of financial year 2020-21, compared to Rs 3,236.85 crore in corresponding quarter of the previous fiscal, marking a 45 per cent decline on a year-on-year basis.

UltraTech Cement’s revenue from operations stood at Rs 14,405.61 crore in the March quarter, the company said in a regulatory filing to the stock exchanges. Profit before interest, depreciation, and tax stood at Rs 3,751 crore during the quarter, compared to Rs. 2,645 crore in the corresponding period of the previous fiscal year.

Meanwhile, UltraTech Cement’s board of directors has recommended a dividend of 370 per cent i.e. Rs 37 per share.

The BSE Sensex was trading at 49,538.95, higher by 333.17 points or 0.68 per cent and the NSE Nifty was at 14,938.70, up 115.70 points or 0.78 per cent.

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