Ultratech Cement PAT grows 113 pct; Net Sales at Rs 10,231 cr vs Rs 9,486 cr in Q1FY21
Ultratech Cement on Wednesday posted a 113 per cent on year rise in its net profits for the quarter ended 30 September 2020. At Rs 1234 cr, the consolidated PAT (Profit After Tax) was more than double for the reporting quarter against Rs 579 cr for the same period during in Q2FY20
Ultratech Cement on Wednesday posted a 113 per cent on year rise in its net profits for the quarter ended 30 September 2020. At Rs 1234 cr, the consolidated PAT (Profit After Tax) was more than double for the reporting quarter against Rs 579 cr for the same period during in Q2FY20.
The Company’s strong quarterly performance is on the back of operational efficiencies, the company said in its filing to the exchanges. UltraTech reported operating margins at 27 per cent driven by both revenue growth and tight cost management.
For the second quarter in a row, the Company has reduced net debt substantially, the company said. “With prudent working capital management, and overall efficient operations, the Company has shaved off Rs 4,728 crores of net debt in the first-half of this fiscal year,” the exchange filing said.
Consolidated Net Sales was at Rs 10,231 cr vis-à-vis Rs 9,486 cr over the corresponding period of the previous year.
On a standalone basis, Net Sales stood at Rs 9,895 cr. Profit before Interest, Depreciation and Tax was Rs 2,699 cr and Profit After Tax was Rs 1,209 cr.
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The Company’s capital and financial resources remain entirely protected and its liquidity position is adequately covered. UltraTech expects demand for cement to grow on the back of Governments thrust on infrastructure and the expanding rural economy, it said in the exchange filing. The recent policy measures announced by the Reserve Bank of India to support the real estate sector will also aid demand, the filing further said.
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