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 email@example.com
(END) Dow Jones Newswires
May 09, 2021 20:15 ET (00:15 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.