UltraTech net profit dips 11% at Rs 726 crore
UltraTech Cement has reported an 11 per cent fall in its consolidated March quarter net profit at Rs 726 crore; the cement major had clocked a net profit of Rs 818 crore in the same period in the previous year. The performance was attributed to higher cost and lower realisations.
Net sales of the company went up by 3 per cent to Rs 7,924 crore compared to the Rs 7,700 crore clocked by UltraTech in the corresponding year-ago period. The company has declared a dividend of Rs 10 per share, which will mean a payout of Rs 330 crore, a figure which includes a corporate dividend tax of Rs 56 crore. Cement sales during the March quarter came in at 13.35 million tonnes. UltraTech also reported overall expenses of Rs 7,110 crore.