UltraTech Cement reported a substantial 71 per cent surge in standalone profit for the third quarter of the fiscal year 2023. The profit rose to Rs 1,696.5 crore, a significant increase from Rs 994.2 crore in the corresponding quarter of the previous year (Q3FY23).
Following the announcement of Q3 earnings, the stock of the Mumbai-based company experienced a notable surge. The revenue of UltraTech Cement witnessed a robust growth of 7.8 per cent, reaching Rs 16,173.5 crore in the December quarter compared to Rs 15,008 crore in the previous year.
The operating profit, also known as Earnings Before Interest, Taxes, Depreciation And Amortisation (EBITDA), demonstrated a remarkable increase of 41.7 per cent to Rs 3,040 crore, compared to Rs 2,144.8 crore in the same quarter a year ago.
The company’s margin witnessed a significant expansion, increasing by 451 basis points (bps) to 18.80 per cent from 14.29 per cent in Q2FY23.
As of now, UltraTech Cement holds a market capitalisation of over Rs 2.90 lakh crore, according to data from the Bombay Stock Exchange (BSE).
