Net Profit Declines 45% To Rs 1,775 Crore In January-March Quarter

UltraTech Cement Q3 Results: The company registered a drop of 45 per cent in net profit

Aditya Birla group company UltraTech Cement reported a net profit of Rs 1.775 crore in the January-March quarter of the financial year 2020-21, compared to Rs 3,236.85 crore in the corresponding quarter of the previous fiscal, marking a 45 per cent decline year-on-year. According to a regulatory filing by the  firm to the stock exchanges, UltraTech Cement’s revenue from operations stood at Rs 14,405.61 crore in the March quarter. (Also Read: UltraTech Cement Q3 Results: Net Profit More Than Doubles To Rs 1,584 Crore )

The company’s revenue registered a growth of 32 per cent year-on-year, as the revenue from operations reported in the same quarter previous fiscal was Rs 10,854.48 crore. The company’s consolidated net sales stood at Rs 14,232 crore, compared to Rs 10,689 crore in the year-ago period. 

UltraTech Cement’s profit before interest, depreciation, and tax stood at Rs. 3,751 crore, compared to Rs. 2,645 crore in the corresponding period of the previous fiscal year. 

According to a filing to the stock exchanges today, the company’s board of directors recommended a dividend of 370 per cent at the rate of Rs 37 per equity share with a face value of Rs 10 per share aggregating Rs 1,068 crore. The dividend is subject to the approval of the company’s shareholders.

According to the statement, UltraTech said that the recovery from COVID-19 led disruptions to the economy during the fiscal year 2020-21 was rapid. It added that the company achieved a capacity utilisation of 93 per cent during the fourth quarter of the fiscal year. 

On Friday, May 7, shares of UltraTech Cement settled 1.23 per cent higher at Rs 6,484.80 apiece on the BSE. 

Author: desi123 is an online news portal that aims to provide the latest trendy news for Asians living in Asia and around the World.

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