Aditya Birla Group firm UltraTech Cement on Tuesday reported a web revenue of Rs 797.43 crore within the quarter ended June 30, and mentioned it had “emerged stronger and properly ready” within the wake of the coronavirus pandemic. That marked a decline of 37.75 per cent in comparison with its web revenue within the corresponding interval a yr in the past. In a regulator submitting, UltraTech Cement reported a 31.52 per cent drop in whole 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 mentioned its give attention to operational efficiencies and value management has made it higher ready for any future slowdown ensuing from the coronavirus pandemic.
The Mumbai-based cement maker mentioned it’s intently monitoring the influence of COVID-19 on its operations. The corporate mentioned the pandemic-related lockdown has been an enormous problem for all its manufacturing models; nevertheless, it managed the disaster with a pointy give attention to operational efficiencies.
Within the obtainable 68 working days in the course of the quarter, UltraTech Cement mentioned it saved a decent management on prices and money move, and achieved an efficient capability utilisation of 60 per cent throughout its vegetation.
UltraTech Cement mentioned its capital and monetary sources stay totally 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 in the course of the session.
At 3:02 pm, UltraTech Cement shares traded 7.23 per cent larger 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 beneficial properties in monetary, vehicle and IT shares.
By then, a complete of 72,000 UltraTech shares had modified arms on the BSE, towards a mean of 20,000 previously two weeks.