UltraTech Cement dips 5% on disappointing December quarter results

The stock dipped 5% to Rs 3,592 after the company posted a 13.6 per cent year-on-year decline in its consolidated net profit at Rs 394 crore in Q3FY19, due to higher operational costs.

Shares of UltraTech Cement dipped 5 per cent to Rs 3,592 on BSE in the intra-day trade after reporting a disappointing set of numbers for the quarter ended December 2018 (Q3FY19). The company posted a 13.6 per cent year-on-year (YoY) decline in its consolidated net profit at Rs 394 crore in Q3FY19, due to higher operational costs. It had reported a profit of Rs 456 crore in a year-ago quarter.

Net sales, however, grew 19 per cent at Rs 9,258 crore on YoY basis. EBITDA (earnings before interest, tax, depreciation and amortization) was up 3.6 per cent at Rs 1,548