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UltraTech Q3 results: Profit surges 49% to Rs 643 crore, misses Street estimates

Analysts in an ET NOW poll had estimated the number at Rs 740 crore.

ETMarkets.com|
Last Updated: Jan 24, 2020, 02.27 PM IST
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Revenue from operations was flat at Rs 9,981.75 crore against Rs 9,938.11 crore.
UltraTech Cement on Friday reported a 48.63 per cent rise in standalone net profit at Rs 643.15 crore compared with Rs 432.70 crore in the same quarter last year.

Analysts in an ET NOW poll had estimated the number at Rs 740 crore.

Revenue from operations was flat at Rs 9,981.75 crore against Rs 9,938.11 crore in the same quarter last year, the company said in a regulatory filing.

The Aditya Birla Group company said signs of revival were visible in some markets during the latter part of Q3FY20. This, together with the government's firm commitment to revive the economy and the thrust on infrastructure spending augur well for the growth of cement demand, it added.

“UltraTech, with its presence across all the zones in the country, is the best positioned to take advantage of the revival in cement demand, despite the anomalies that may get created in demand patterns in some parts of the country due to extraneous reasons,” the company said in a release.

Earnings before interest, taxes, depreciation, and amortisation (Ebitda) of the cement maker was at Rs 1,786 crore and margins came in at 17.8 per cent for the December quarter.

The company has provided Rs 133.23 crore as part of other expenses, against various liabilities under the government’s Sabka Vishwas legacy dispute resolution scheme.

Shares of UltraTech Cement slumped after the results announcement, but soon reversed losses to trade in the green. The stock was at Rs 4,566, up 0.81 per cent at around 2.30 pm on BSE.
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