UltraTech Cement Ltd.'s quarterly profit rose, beating estimates, even as its margin contracted on higher costs.
The cement maker's net profit increased 38% year-on-year to Rs 2,453.9 crore in the three months ended March, according to its exchange filing. That compares with the Rs 1,504.3-crore consensus estimate of analysts tracked by Bloomberg.
The company reported a current tax credit of Rs 137 crore and a deferred tax reversal of Rs 41 crore on a standalone basis in the quarter ended March.
UltraTech Cement Q4 FY22 Key Highlights (YoY)
Revenue rose 8.6% to Rs 15,167.5 crore, against the Rs 15,051.4-crore forecast.
Operating profit declined 16.2% to Rs 2,943.3 crore, compared with the estimated Rs 2,822.4 crore. That's because of a 48% jump in energy costs, with prices of petcoke and and coal doubling during the period.
Ebitda margin contracted to 19.4% from 25.1% a year ago. Analysts had pegged the metric at 18.75%.
Other income jumped to Rs 145 crore from 84 crore.
The company's board has recommended a dividend of Rs 38 apiece, aggregating to Rs 1,097 crore
Shares of UltraTech gained 0.14% after the results were announced compared with a 0.98% decline in the benchmark Nifty 50.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
