New Delhi: Shares of UltraTech Cement fell more than 2 percent on Monday after the company reported a 45.2 percent decline in consolidated net profit for the fourth quarter ended March 2021.
The stock fell 2.31 percent to Rs 6,334.75 on BSE.
On NSE, it fell 2.34 percent lower to 6,330 Rs.
Aditya Birla Group, UltraTech Cement, reported a 45.2 percent decline in consolidated net profit to 1,774.13 million for the fourth quarter ended March 2021 on Friday due to the reversal of deferred tax liabilities.
The leading cement producer made a net profit of 3,236.85 million in the January-March quarter a year ago, according to a BSE submission.
However, its operating income increased by 32.72 percent to 14,405.61 million, compared to 10.854.48 million in the corresponding period of the previous fiscal year.
According to UltraTech, net profit for the quarter was lower due to the reversal of deferred tax liabilities.
Source: Telangana Today