Ultratech Q3 profit beats estimates

Cement giant Ultratech cement posted good results. These results exceeded expectations that’s why markets rewarded the stock with gains. On NSE, it was up by 2.74%. 

It posted a consolidated profit after tax (PAT) of Rs 1,708 crore for the quarter ended December 2021, a 7.8 % up from Rs 1,584 crore in the year-ago period. PAT during the previous quarter was Rs 1,314 crore. That means a 29.98% increase QoQ. 

Its Consolidated revenue met expectations and were up by 6 percent at Rs 12,985 crore against Rs 12,254 crore in December 2020 quarter and Rs 12,017 crore in the September 2021 quarter.

Operating income for the quarter rose by 133 percent to Rs 275 crore.

However, due to the higher costs of goods sold, the margins impacted significantly. The EBITDA margins were at 20 percent compared to 28 percent in the corresponding quarter of last year.