 "UltraTech Cement pares early loss post Q1 results")
Shares of UltraTech Cement have moved higher to Rs 3,249, bouncing back 4% from intra-day lows on the NSE, after the company reported a consolidated net profit of Rs 591 crore for the quarter ended June 30, 2015 (Q1), in line with Street estimates. The cement maker had posted a profit of Rs 628 crore in the same quarter a year ago.
Analysts on an average had expected a profit of Rs 585 crore for the quarter.
Net sales during the quarter under review grew 6.4% at Rs 6,372 crore against Rs 5,989 crore in the corresponding quarter of previous fiscal.
EBITDA (earnings before interest, tax, depreciation and amortization) stood at 20.12% in the June quarter against 21.64% in the previous year's corresponding quarter.
On outlook, UltraTech Cement said "the company is positioned across the country to meet the expected rise in demand and participate in the next phase of growth in the country, with the government's focus on infrastructure development, housing sector, smart cities, road etc."
The stock had touched a low of Rs 3,117 on the NSE prior to the announcement of Q1 results. A combined 652,330 shares have changed hands on the counter on the NSE and BSE so far.
At 14:33 PM, the stock was up nearly 1% at Rs 3,240 on the NSE.
Analysts on an average had expected a profit of Rs 585 crore for the quarter.
Net sales during the quarter under review grew 6.4% at Rs 6,372 crore against Rs 5,989 crore in the corresponding quarter of previous fiscal.
EBITDA (earnings before interest, tax, depreciation and amortization) stood at 20.12% in the June quarter against 21.64% in the previous year's corresponding quarter.
On outlook, UltraTech Cement said "the company is positioned across the country to meet the expected rise in demand and participate in the next phase of growth in the country, with the government's focus on infrastructure development, housing sector, smart cities, road etc."
The stock had touched a low of Rs 3,117 on the NSE prior to the announcement of Q1 results. A combined 652,330 shares have changed hands on the counter on the NSE and BSE so far.
At 14:33 PM, the stock was up nearly 1% at Rs 3,240 on the NSE.
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