UltraTech Cement shares close over 1% lower after Q4 earnings

UltraTech Cement says it remains interested in the Binani Cement acquisition but believes there was lack of transparency as it was not called for revised regulations before the voting of the Committee of Creditors. Photo: ReutersPremium
UltraTech Cement says it remains interested in the Binani Cement acquisition but believes there was lack of transparency as it was not called for revised regulations before the voting of the Committee of Creditors. Photo: Reuters
 1 min read . Updated: 10 May 2021, 05:06 PM IST PTI

NEW DELHI : Shares of UltraTech Cement on Monday closed over 1 per cent lower after the company reported a 45.2 per cent decline in consolidated net profit for the fourth quarter ended March 2021.

The stock declined 2.31 per cent to ₹6,334.75 during the day on the BSE. It closed at ₹6,405.75, lower by 1.22 per cent.

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On the National Stock Exchange (NSE), it closed at ₹6,399, a fall of 1.27 per cent.

Aditya Birla Group firm UltraTech Cement on Friday reported a 45.2 per cent decline in consolidated net profit to ₹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 ₹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 per cent to ₹14,405.61 crore as against ₹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. PTI SUM HRS hrs

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