UltraTech Cement PAT jumps three-fold in Q4FY20

UltraTech Cement reported its fourth quarter result today. Its consolidated revenue for the quarter came in at Rs 10,745.62 crore, registering 13.1 per cent YoY decline. This was primarily driven by a 16 per cent YoY decline in the consolidated sales volume.

EBITDA for the quarter fell by 3.9 per cent YoY to Rs 2,442.67 crore with a corresponding margin expansion of 219 bps. EBITDA margin for the quarter stood at 22.7 per cent. This margin expansion was aided by lower power & fuel cost during the quarter.

PAT for the quarter registered a significant growth of 198 per cent to Rs 3,239.39 crore from Q4FY19. This was mainly aided by a tax credit of Rs 2,024.03 during the quarter, owing to the change in income tax rates.

The company continues to reduce its debt and as on Q4FY20, its consolidated net debt was at Rs 16,860 crore as against Rs 22,111 in the corresponding quarter of the previous year. The company has set a capex target of Rs 1,000 crore for FY21E.

With a response to this result, the stock of UltraTech Cement in today’s trading session settled at Rs 3,545, up by 3.1 per cent from its previous close.