Ebene Magazine – Ultratech Cement up 2% as net profit doubles in third quarter

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Ebene Magazine - Ultratech Cement up 2% as net profit doubles in third quarter

Ultratech Cement stocks rose more than 2 percent versus the BSE after the cement maker’s net income more than doubled for the quarter ended December 31, 2020. Aditya Birla Group’s UltraTech Cement reported a two-fold increase in consolidated net income to Rs 1,584.58 crore for the third quarter of the fiscal year on Saturday, January 23rd. At 9:55 a.m. Ultratech Cement’s shares were trading at Rs 5650, up Rs 119.80, or 2.17 percent, over BSE.

The leading cement maker reported net income of Rs 711.17 billion for the same period last year, said UltraTech Cement in a BSE approval application with. The company’s operating income was Rs 12,254.12 billion for the October-December quarter, up 17.38 percent from Rs 10,439.34 billion for the same period last fiscal year.

Total Cost of UltraTech Cement totaled Rs 10,190.03 billion for the third quarter of fiscal year, compared to Rs 9,611.08 billion, a decrease of 6.29 percent.

The BSE Sensex traded at 48 million, 659.45 , down 158 points, or 0.26 percent, and the NSE Nifty was 145,341, down 32.55 points, or 0.25 percent at that point.

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