UltraTech Cement Q4 Results: Profit Beats Estimates But Margin Contracts
The cement maker’s net profit increased 38% year-on-year to Rs 2,453.9 crore in the three months ended March.
UltraTech Cement Ltd.’s quarterly profit rose, beating estimates, even as its margin contracted on higher costs.
The cement maker’s net profit increased 38% year-on-year to Rs 2,453.9 crore in the three months ended March, according to its exchange filing. That compares with the Rs 1,504.3-crore consensus estimate of analysts tracked by Bloomberg.
The company reported a current tax credit of Rs 137 crore and a deferred tax reversal of Rs 41 crore on a standalone basis in the quarter ended March.
UltraTech Cement Q4 FY22 Key Highlights (YoY)
Revenue rose 8.6% to Rs 15,167.5 crore, against the Rs 15,051.4-crore forecast.
Operating profit declined 16.2% to Rs 2,943.3 crore, compared with the estimated Rs 2,822.4 crore. That’s because of a 48% jump in energy costs, with prices of petcoke and and coal doubling during the period.
Ebitda margin contracted to 19.4% from 25.1% a year ago. Analysts had pegged the metric at 18.75%.
Other income jumped to Rs 145 crore from 84 crore.
The company’s board has recommended a dividend of Rs 38 apiece, aggregating to Rs 1,097 crore
Shares of UltraTech gained 0.14% after the results were announced compared with a 0.98% decline in the benchmark Nifty 50.