UltraTech Cement Q2 net profit jumps 25% YoY

India Infoline News Service | Mumbai | October 17, 2016 15:18 IST

The company posted a net profit after taxes and Minority interest of Rs 614 crore for the quarter ended September 30, 2016 as compared to Rs 490 crore for the quarter ended September 30, 2015.

UltraTech Cement
UltraTech Cement Ltd ,an Aditya Birla Group Company, today announced its unaudited financial results for the quarter ended 30th September, 2016. The Company has adopted Indian Accounting Standards (IndAS) with effect from 1st April, 2016. The figures for the quarter ended 30th September, 2015 have also been restated as per IndAS.

Financials
Net Sales stood at Rs. 5,709 crore as compared to Rs.5,857 crore in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax at Rs.1,378 crore was higher by 16% as compared to Rs.1,186 crores in the corresponding period of the previous year. Profit after Tax rose 25% from Rs.491 crores to Rs.614 crores in Q2FY17.


On a standalone basis Net Sales stood at Rs.5,398 crores as compared to Rs.5,527 crores in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax at Rs.1,327 crores grew 19% as compared to Rs.1,116  crores in Q2FY16 and Profit after Tax jumped 31% from Rs.457  crores in the Q2FY16 to Rs.601  crores in Q2FY17.


Outlook
Government’s thrust on developing infrastructure spending, good monsoons, development of smart cities leading to growth in housing demand in Tier-I and Tier-II cities, slower pace of new capacity addition augur well for the cement industry. UltraTech is well positioned across the country to meet the expected rise in demand and participate in the next phase of growth in the country.


Stock view:
UltraTech Cement Ltd is currently trading at Rs 4002.95, down by Rs 35.45 or 0.88% from its previous closing of Rs 4038.4 on the BSE.

The scrip opened at Rs 4038.4 and has touched a high and low of Rs 4069.55 and Rs 3965 respectively. So far 379852 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 110833.95 crore.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 4130 on 08-Sep-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 4057 and Rs 3939.25 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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