UltraTech Cement stock down 1% on net profit decline in March quarter

Shares of UltraTech Cement fell by over 1 per cent on Tuesday after the company reported a 36.1 per cent decline in its consolidated net profit for the fourth quarter ended March 2023.

The stock ended 1.30 per cent lower at Rs 7,456.05 on the BSE. During the day, it went down by 1.55 per cent to Rs 7,436.75.

At the NSE, it fell by 1.29 per cent to finish at Rs 7,458.

The company's market valuation fell by Rs 2,845 crore to Rs 2,15,245.98 crore.

Aditya Birla group firm UltraTech Cement on Friday reported a 36.1 per cent decline in its consolidated net profit to Rs 1,670.10 crore for the fourth quarter ended March 2023, mainly due to an increase in input cost.

The company had posted a net profit of Rs 2,613.75 crore in the January-March period a year ago, UltraTech Cement said in a regulatory filing.

However, its revenue from operations rose 17.72 per cent to Rs 18,562.38 crore during the quarter under review against Rs 15,767.28 crore in the year-ago period.

UltraTech's total expenses in Q4 FY23 increased 19.76 per cent to Rs 16,292.95 crore from Rs 13,604.20 crore a year ago.