Ultratech Cement Ltd shares jumped nearly 3% on Monday after the company announced the commissioning of 2.6 million tonnes per annum (MTPA) greenfield grinding capacity in Rajpura, Punjab.
In a filing to the stock exchanges, the Aditya Birla Group company said that the commissioning of the 2.6 MTPA greenfield grinding capacity at Rajpura is part of its 22.6 MTPA capacity expansion plan announced in June 2022.
The company informed the bourses about the capacity expansion proposal in a letter dated June 2, 2022. The additional capacity will aid the company for services in the markets of Punjab. After the commissioning of the new capacity, Ultratech Cement’s total grey cement manufacturing capacity now stands at 135.59 MTPA in India.
The leading cement producer reported an impressive 68% increase in the consolidated net profit on a year-on-year (YoY) basis at ₹1,776.98 crore in the quarter ended December 31, 2023, compared to ₹1,058.20 crore in the same period last year.
Its consolidated revenue increased 7.85% to ₹16,740 crore in the third quarter of the financial year 2024, as opposed to ₹15,520.93 crore in the corresponding quarter in the preceding financial year.
Ultratech Cement’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased 37.87% in Q3FY24 to ₹3,395.05 crore compared to ₹2,462.44 crore in the year-ago period.
Ultratech Cement Ltd shares were trading 2.6% higher at ₹10,245.85 apiece on BSE at 2:20 PM on Monday. The scrip settled at ₹ 10,237.60, up 2.69%.
(Edited by : Ajay Vaishnav)
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