Monday, 23 January 2017

UltraTech Cement Net Up 5% At Rs 594.61 cr In December-Quarter

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Aditya Birla Group company UltraTech Cement Ltd has reported a growth of 5.1 per cent in its consolidated net profit after taxes (PAT) at Rs 594.61 crore for the October-December quarter of FY17. The consolidated net profit of the country’s biggest cement manufacturer stood at Rs 565.61 crore during the same period a year ago, said UltraTech Cement Ltd in a filing to the Bombay Stock Exchange.

However, the consolidated total income of the grey & white cement maker fell 1.4 per cent at Rs 6,858.47 crore during Q3 FY 17, as compared to Rs 6,953.43 crore during the same period last year.

During the quarter under review, it’s consolidated gross sales declined to Rs 6,690.22 crore in October-December quarter of 2016-17, from Rs 6,785.01 crore in the same quarter of 2015-16 fiscal. On the outlook front, the company said, “Continuing government spending on infrastructure, development of smart cities, interest rate cuts supported by interest subsidy schemes for housing will be the key demand drivers.” Meanwhile, shares of the company ended Friday’s trade at Rs 3,470.20 apiece, up 0.44 per cent, from previous close on BSE.

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