UltraTech Cement sheds over 2?ter Q2 numbers

UltraTech Cement sheds over 2 percent after Q2 numbers

19 Oct , 2021 By : monika singh

UltraTech Cement shed 2.3 per cent on Tuesday as investors were disappointed after the company posted a flat consolidated on-year profit for July-September because of a sharp increase in coal and pet coke prices.

At 12:05 hours (IST), UltraTech was trading at Rs 7,227.15 on BSE, down 2.3 per cent from the previous close.

On Monday, the Aditya Birla group firm reported a consolidated net profit of Rs 1,310.34 crore for July-September barely registering any difference from Rs 1,310.06 crore over the same period a year ago.

The company’s consolidated revenue for July-September stood at Rs 12,017 crore, up 1.6 per cent from Rs 11,830 crore on a sequential basis. When seen from a yearly perspective, revenue registered a gain of 15.7 per cent.

UltraTech, which is India’s largest cement manufacturer, said in a statement that it is confident of “weathering the storm of increase in prices of coal, diesel and other inputs” with its sustainable efficiency improvement programs and by an increase in selling prices.

Global fuel prices have surged this month, with Brent crude futures rising to 3-year highs on account of a global shortage of coal and natural gas.