UltraTech Cement Q3 profit rises 70% to Rs 1,696.5 crore

UltraTech Cement Q3 results: Cement company UltraTech Cement’s standalone profit soared 71 per cent to Rs 1,696.5 crore, from Rs 994.2 crore in the same quarter a year ago (Q3FY23).

The stock surged sharply following the Q3 earnings announcement. 

The Mumbai-based company’s revenue soared 7.8 per cent to Rs 16,173.5 crore in the December quarter, from Rs 15,008 crore in the previous year.

Its operating profit, also known as EBITDA, soared 41.7 per cent to Rs 3,040 crore, as against Rs 2,144.8 crore in the same quarter a year ago.

The company’s margin zoomed 451 basis points (bps) to 18.80 per cent, from 14.29 per cent in Q2FY23.

The market capitalisatiion of the company is over Rs 2.90 lakh crore, according to BSE.

As of 1:21 om, shares of the cement company were trading 1.09 per cent higher at Rs 10,000.05 per share.