NEW DELHI: Shares of UltraTech Cement on Monday closed over 1 per cent lower after the company reported a 45.2 per cent decline in consolidated net profit for the fourth quarter ended March 2021.
The stock declined 2.31 per cent to Rs 6,334.75 during the day on the BSE. It closed at Rs 6,405.75, lower by 1.22 per cent. On the National Stock Exchange (NSE), it closed at Rs 6,399, a fall of 1.27 per cent.
Aditya Birla Group firm UltraTech Cement on Friday reported a 45.2 per cent decline in consolidated net profit to Rs 1,774.13 crore for the fourth quarter ended March 2021 on account of reversal of deferred tax liabilities.
The leading cement producer had posted a net profit of Rs 3,236.85 crore in the January-March quarter a year ago, it said in a BSE filing.
However, its revenue from operations rose 32.72 per cent to Rs 14,405.61 crore as against Rs 10,854.48 crore in the corresponding period of the last fiscal.
According to UltraTech, the net profit for the quarter was lower because of reversal of deferred tax liabilities.