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Ultra Tech Cement FY20 profit rises to Rs 5,815 crore; Rs 13 per share dividend announced

In Q4FY20, the consolidated net sales stood at Rs 10,579 crore compared to Rs 12,170 crore over the corresponding period of the previous year

twitter-logo BusinessToday.In   New Delhi     Last Updated: May 20, 2020  | 15:49 IST
Ultra Tech Cement FY20 profit rises to Rs 5,815 crore; Rs 13 per share dividend announced
The company also announced Rs 13 as a share dividend

UltraTech Cement on Wednesday reported over two-fold rise in consolidated net profit at Rs 5,815 crore in FY20 compared with Rs 2,404 crore in the previous fiscal. The normalised profit before considering a one-time tax gain of Rs 2,112 crore stood at Rs 3,703 crore. The consolidated net sales was at Rs 41,476 crore as against Rs 40,904 crore over the previous year. Profit before interest, depreciation and tax rose 27 per cent at Rs 9,930 crores as against Rs 7,811 crores in the corresponding period of the previous year.

The company also announced Rs 13 as a share dividend. "The Board of Directors at their meeting held today have recommended a dividend of 130% at the rate of Rs 13 per equity share of face value of Rs10 per share, aggregating Rs 375.21 crores. In terms of the provisions of the Finance Act, 2020, dividend shall be taxed in the hands of shareholders at applicable rates of tax and the Company shall withhold tax at source appropriately," Ultra Tech Cement said in an exchange filing on Wednesday. During the year the company reduced its net debt or EBITDA ratio to 1.7 times from 2.83 times as on March 31, 2019.

In Q4FY20, the consolidated net sales stood at Rs 10,579 crore compared to Rs 12,170 crore over the corresponding period of the previous year. Profit before interest, depreciation and tax was at Rs 2,639 crore as against Rs 2,672 crore in the corresponding period of the previous year. Profit after tax was Rs 3,243 crore compared to Rs 1,064 crore in the corresponding period of the previous year.

Shares of UltraTech Cement ended the trade at Rs 3,545.55, up 107.40 points, or 3.12 per cent on NSE at the time of reporting.

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