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UltraTech Cement's Fourth-Quarter Net Profit Fell 45%

   By Yi Wei Wong 
 

UltraTech Cement Ltd.'s fourth-quarter net profit plunged 45%, mainly due to higher tax expenses.

Net profit fell to 17.75 billion rupees ($242.3 million), while revenue rose slightly to INR144.05 billion from INR108.54 billion in the same period a year earlier, the Indian cement company said late Friday.

Tax expenses rose to INR4.78 billion from INR2.47 billion a year earlier.

The company said it was closely monitoring the impact of the second wave of the pandemic on its operations.

 

Write to Yi Wei Wong at yiwei.wong@wsj.com

 

(END) Dow Jones Newswires

May 09, 2021 20:15 ET (00:15 GMT)

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