Ultratech Share Price: Over 6% Rise Recorded In Afternoon Trade Despite Decline In Q3 Net Profits

Ultratech Cement Share Price: The shares of Ultratech Cement surged over 6% despite the biggest cement manufacturer in India reporting a fall in net profit in Q3. The company has reported a decline of 17% in net profit on a year-on-year basis for the December quarter. However, the consolidated revenue of the company from operations rose 3 per cent YoY to Rs 17,193 crore. 

The rally in the shares came after Ultrtech reported a lower decline in profit than the expectations of market experts and optimism of heavy allocation in the upcoming budget for the infra sector.

At around 3:22 pm, the stock was trading at Rs 11,395.00 per share, up 6.56% against the previous day's closing price. The shares of the Cement giant opened at Rs 10,690.0, falling a bit against the last session closing price of Rs 10,693.75 per share on NSE. However, it took momentum in the afternoon trade after the company announced results for the December quarter. 

Ultratech Q3 Result

UltraTech Cement Limited on Thursday reported a consolidated net profit of Rs 1,473.51 crore for the third quarter ended December 31, 2024. According to regulatory information, UltraTech Cement had reported a consolidated net profit of Rs 1,774.78 crore in the same quarter of the previous fiscal.

The company earned Rs 17,193.33 crore from operations in the quarter under review. It was Rs 16,739.97 crore in the same quarter a year ago. Total expenditure in the third quarter was Rs 15,604.85 crore. It was Rs 14,531.04 crore in the same period last year.

UltraTech said that these results are not comparable with the same period of the previous year, as they also include the financial results of Ras Al Khaimah Company.

For White Cement & Construction Materials PSC (RAKWCT), where wholly-owned arm UltraTech Cement Middle East Investments Ltd (UCMEIL) completed the acquisition of a 25 per cent stake on July 10, 2024, along with a further 11.55 per cent stake on November 6, 2024, in Maash Ka Kabab.

The company said it achieved 73 per cent capacity utilisation in the quarter. Domestic sales volume grew 10 per cent year-on-year, while energy costs declined 13 per cent.

Regarding the expansion programme, UltraTech said it is progressing as per schedule. The company installed an additional 1.8 million tonnes per annum (MTPA) of capacity. With the acquisition of India Cements Ltd, UltraTech's cement capacity has increased to 171.11 MTPA on a consolidated basis.

Also read: Ultratech Share Price: Over 6% Rise Recorded In Afternoon Trade Despite Decline In Q3 Net Profits

(With Inputs From PTI)