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  1. UltraTech Cement reports 3% rise in Q2 consolidated net profit 

UltraTech Cement reports 3% rise in Q2 consolidated net profit 

UltraTech Cement announced its results for the second quarter ended September 30, 2015 on Monday.

By: | New Delhi | Published: October 19, 2015 4:31 PM
Ultratech cement

Total income (consolidated) of Ultratech Cement has increased by 4.11 per cent at Rs 6,058.16 crore for quarter under review as compared to Rs 5818.73 crore for the quarter ended June 30, 2014. (PTI)

UltraTech Cement announced its results for the second quarter ended September 30, 2015 on Monday. The company reported 3.94 per cent fall in its net profit at Rs 393.89 crore for the quarter ended September 30, 2015 as compared to Rs 410.05 crore for the same quarter in the previous year.

However, the company’s total income has increased by 4.09 per cent to Rs 5725.87 crore for the quarter under review from Rs 5,500.69 crore for the corresponding quarter of the previous year.

On the consolidated basis, the company has reported 3.07 per cent rise in its net profit at Rs 426.97 crore for the quarter ended September  30, 2015 as compared to Rs 414.24 crore for the same quarter in the previous year.

Total income (consolidated) of the company has increased by 4.11 per cent at Rs 6,058.16 crore for quarter under review as compared to Rs 5818.73 crore for the quarter ended June 30, 2014.

Shrenik Gujrathi, senior research analyst, Cement, Angel Broking, said, ““Ultratech Cement 2QFY16 results were better than expected. The company reported an EBITDA of Rs 989.1 cr v/s Rs 829.5 cr during 2QFY2015, up 19.2 per cent yoy. It was above our estimate of Rs 920.7cr. However, standalone PAT came in at Rs 393.9 cr which was below our estimate of Rs 430.6 cr mainly due to lower other income. We maintain ‘Accumulate’ rating on the stock.”

The share price of the company closed 1.76 per cent down at Rs 2,903.

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