Aditya Birla group firm UltraTech Cement Ltd on Friday reported a 36 percent decline in its consolidated profit after tax (PAT) at Rs 1,670 crore for the fourth quarter that ended on March 31, 2023, as against Rs 2,620 crore in the same period a year ago. The profit is lower than CNBC-TV18's poll of Rs 1,755 crore.

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The company's revenue from operations surged 18 percent to Rs 18,562 crore during the quarter under review as compared to Rs 15,767 crore in the same period last year. It was in line with CNBC-TV18 poll's of Rs 18,585 crore.

UltraTech's operating profit, calculated as EBITDA or earnings before interest, tax, depreciation and amortisation surged 9 percent YoY at Rs 3,444 crore.

Operationally, the total consolidated sales volume for the fourth quarter came in at 31.7 million tons, recording a growth of 14 percent on-year and 22 percent QoQ.

On a sequential basis, the operating EBITDA improved to Rs 1,060 per Mt from Rs 900 per Mt.

The leading cement manufacturer's board has also recommended a dividend of Rs 38 per equity share of Rs 10 each for fiscal FY23.

Meanwhile, shares of UltraTech settled 0.52 percent higher at Rs 7,540 apiece ahead of the company's March quarter results. The stock rose 12 percent in the last six months, while on a year-to-date basis it was up 7 percent.

UltraTech shares have an average broker target of Rs 7786.64 apiece, implying a potential upside of 3.05 percent from the current market levels, according to data from Trendlyne.

First Published:Apr 28, 2023 4:34 PM IST