Ultratech
Ultratech

Shares of UltraTech Cement on Monday dipped over 2 percent after the company reported a 45.2 percent decline in consolidated net profit for the fourth quarter ended March 2021.

The stock declined 2.31 per cent to Rs 6,334.75 on BSE. On NSE, it went lower by 2.34 per cent to Rs 6,330.

Aditya Birla Group firm UltraTech Cement on Friday reported a 45.2 percent decline in consolidated net profit to Rs 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 Rs 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 Rs 14,405.61 crore as against Rs 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.

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