Provided by Dow Jones By Yi Wei Wong UltraTech Cement Ltd. s fourth-quarter net profit plunged 45%, mainly due to higher tax expenses. Net profit fell to 17.75 billion rupees ($242.3 million), while revenue rose slightly to INR144.05 billion from INR108.54 billion in the same period a year earlier, the Indian cement company said late Friday. Tax expenses rose to INR4.78 billion from INR2.47 billion a year earlier. The company said it was closely monitoring the impact of the second wave of the pandemic on its operations. Write to Yi Wei Wong at yiwei.wong@wsj.com (END) Dow Jones Newswires Sponsor Center
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BENGALURU (Reuters) - Indian shares closed the week on a strong note on Friday, lifted by a sizzling rally in metal stocks on upbeat global commodity prices and gains in mortgage lender HDFC following better-than-expected quarterly results.
The NSE Nifty 50 index rose 0.67% to 14,823.15, while the benchmark S&P BSE Sensex advanced 0.52% to 49,206.47. The indexes closed the week 1.3% and 0.9% higher, respectively, registering their second straight week of gains.
Metal shares clocked their best week since early February with a 4.7% jump on Friday as iron ore futures vaulted on strong Chinese demand and copper prices hit a record high amid tight supply outlook in a global economic recovery.
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. (
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.
: Saturday, May 8, 2021, 12:55 PM IST
Results: UltraTech Cement Q4 net profit down 45% to Rs 1,774 cr; declares Rs 37 dividend
Ultratech
Aditya Birla Group firm UltraTech Cement on Friday reported a 45.2 percent decline in consolidated net profit to Rs 1,774.13 crore for the fourth quarter ended March 2021 on account of reversal of deferred tax liabilities.
The leading cement producer had posted a net profit of Rs 3,236.85 crore in the January-March quarter a year ago, it said in a BSE filing.
However, its revenue from operations rose 32.72 percent to Rs 14,405.61 crore as against Rs 10,854.48 crore in the corresponding period of the last fiscal.
According to UltraTech, the net profit for the quarter was lower because of reversal of deferred tax liabilities.
Sensex, Nifty end stronger for 2nd straight session as metal stocks gain
Sensex, Nifty end stronger for 2nd straight session as metal stocks gain
The NSE Nifty 50 index rose 0.67% to 14,823.15, while the benchmark S&P BSE Sensex advanced 0.52% to 49,206.47.
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UPDATED: May 7, 2021 16:04 IST
Sensex and Nifty closed the week 1.3% and 0.9% higher, respectively, registering their second straight week of gains. (Photo: Reuters)
Indian shares closed the week on a strong note on Friday, lifted by a sizzling rally in metal stocks on upbeat global commodity prices and gains in mortgage lender HDFC following better-than-expected quarterly results.
The NSE Nifty 50 index rose 0.67% to 14,823.15, while the benchmark S&P BSE Sensex advanced 0.52% to 49,206.47. The indexes closed the week 1.3% and 0.9% higher, respectively, registering their second straight week of gains.