UltraTech Cement stock climbs nearly 3% after rise in Q2 net profit

New Delhi: UltraTech Cement's stock climbed nearly 3 per cent on Thursday after the firm reported a 68.75 per cent jump in consolidated net profit for the September quarter.

Shares of the company ended at Rs 8,514.80, up 2.83 per cent on the BSE. During the day, it jumped 3.12 per cent to Rs 8,539.85.

At the NSE, it climbed 2.85 per cent to settle at Rs 8,514.65 apiece.

UltraTech Cement Ltd on Thursday reported a 68.75 per cent jump in consolidated net profit at Rs 1,280.38 crore for the second quarter of the ongoing fiscal.

The company had posted a consolidated net profit of Rs 758.7 crore in the year-ago period, UltraTech said in a regulatory filing.

Consolidated revenue from operations stood at Rs 16,012.13 crore, as against Rs 13,892.69 crore in the year-ago period, it added.

Total expenses in the second quarter were higher at Rs 14,493.01 crore, as compared to Rs 12,934.27 crore in the corresponding period last fiscal, the company said.

"Cement demand maintained its positive momentum during the second quarter of FY24 also. The company witnessed demand from all sectors, fuelled by government-led infrastructure, rural development and urban residential demand," it said.