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News Analyst forecasts 100% profit growth in second quarter of 2021 financial year for UltraTech Cement

Analyst forecasts 100% profit growth in second quarter of 2021 financial year for UltraTech Cement

Written by Global Cement staff 20 October 2020
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India: Motilal Oswal Securities predicts that Aditya Birla subsidiary UltraTech Cement’s second-quarter profit is likely to rise by 100% year-on-year in the 2021 financial year, which began on 1 April 2020, to US$161m from US$80.5m in the second quarter of the 2020 financial year. The Economic Times newspaper has reported that the analysts expect an increase in sales of 3.5% to US$1.36bn from US$1.31bn, an increase in cement volumes of 3.9% to 19.4Mt from 18.7Mt, a price drop and a fall in costs in the quarter, which ended on 30 September 2020. The analysts added that cement makers may show volume growth in the seasonally weak quarter due to pent-up demand as the economy has reopened following coronavirus-related disruption.

Global Cement apologies to UltraTech Cement for the previous version of this article that wrongly suggested that the company had made the forecast

Last modified on 21 October 2020
Published in Global Cement News
Tagged under
  • India
  • UltraTech Cement
  • Results
  • Analyst
  • Forecast
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