Ultratech Cement Q1FY17 consolidated net profit rises 29% yoy to Rs.780.11 crore : Beats Estimates

India Infoline News Service | Mumbai | July 19, 2016 14:00 IST

The company’s consolidated revenue stood at Rs.6589.71 crore,rising 3.92 % yoy

UltraTech Cement
Ultratech Cement, India's biggest cement company, reported consolidated net profit of Rs.780.11 crore for the quarter ended June 30, 2016, registering growth of 29.17% yoy. The company’s revenue stood at Rs.6589.71 crore, up 3.92% yoy.

Its consolidated core operating profit of Rs.1475.37 crore for the quarter, clocked growth of 22.74% yoy. Operating profit margin for the current quarter at 22.39 % expanded by  343bps yoy.
On standalone basis, Ultratech Cement reported standalone net profit of Rs. 774.92 crore for the quarter ended June 30, 2016, registering growth of 28.30% yoy. The company’s revenue stood at Rs.6232.53 crore, growing 3.76% yoy.

Its standalone core operating profit of Rs. 1422.51 crore for the quarter, clocked growth of 23.35% yoy. Operating profit margin for the current quarter at 22.82% expanded by  362bps yoy.


Ultratech Q1FY17:  In line with estimates numbers 

Ultratech posted results more or less inline with estimates. It’s consolidated net revenue stood at Rs 6589.71 cr, inline with IIFL estimates of Rs. 6559.9 cr, the cement player posted a net profit of Rs.780.11 cr beating IIFL estimates of Rs. 750.40 cr by 3.96%. The rise in the bottom line was mainly due to increase in other income which stood at Rs151.01 cr, rising ~51% yoy. However, the growth in net profit to some extent was impacted due to increase in financing costs of 20% yoy and tax expense which grew ~40% yoy.


Result Highlights: (Rs. in crore)
 

Reported Results IIFL Estimates Variance (%)
Consolidated Revenue 6589.71 6559.9 0.45
Consolidated Net Profit 780.11 750.4 3.96

Consolidated EPS for the quarter ended June 30, 2016 stood at Rs.28.43

Stock Commentary:

UltraTech Cement Ltd is currently trading at Rs. 3515.25, up by Rs. 15.65 or 0.45% from its previous closing of Rs. 3499.6 on the BSE.

The scrip opened at Rs. 3515 and has touched a high and low of Rs. 3559.9 and Rs. 3478.05 respectively. So far 649365(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 96042.47 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3600 on 05-Jul-2016 and a 52 week low of Rs. 2581.15 on 18-Jan-2016. Last one week high and low of the scrip stood at Rs. 3556 and Rs. 3421.35 respectively.

The promoters holding in the company stood at 62.27 % while Institutions and Non-Institutions held 26.45 % and 11.28 % respectively.

The stock is currently trading above its 50 DMA.

***Note: This is a NSE Chart

 

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