Aditya Birla Group firm UltraTech Cement on Tuesday reported a internet revenue of Rs 797.43 crore within the quarter ended June 30, and stated it had “emerged stronger and effectively ready” within the wake of the coronavirus pandemic. That marked a decline of 37.75 per cent in comparison with its internet revenue within the corresponding interval a yr in the past. In a regulator submitting, UltraTech Cement reported a 31.52 per cent drop in complete income from operations to Rs 7,912.58 crore. Shares, nevertheless, spiked greater than 9 per cent amid massive volumes after the earnings announcement.
UltraTech Cement stated its concentrate on operational efficiencies and value management has made it higher ready for any future slowdown ensuing from the coronavirus pandemic.
The Mumbai-based cement maker stated it’s intently monitoring the influence of COVID-19 on its operations.
UltraTech Cement stated its capital and monetary sources stay completely protected and its liquidity place is sufficiently lined.
On the BSE, UltraTech Cement shares jumped as a lot as 9.08 per cent to Rs 4,209.50 through the session.
At 3:02 pm, UltraTech Cement shares traded 7.23 per cent greater at Rs 4,137.95 apiece on the BSE, outperforming the benchmark S&P BSE Sensex index which was up 1.44 per cent propelled by positive factors in monetary, car and IT shares.
By then, a complete of 72,000 UltraTech shares had modified arms on the BSE, as in opposition to a median of 20,000 prior to now two weeks.