Share price of UltraTech Cement soared on Monday after the company announced better than expected consolidated net profit in the December quarter.

On the BSE, company’s stock jumped 5.40 per cent to a one-year high of Rs 5,829.90.

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Similar results were seen on the NSE where the company gained 5.36 per cent to its 52-week high of Rs 5,831.80.

Aditya Birla group firm UltraTech Cement on Saturday reported over two-fold jump in consolidated net profit at Rs 1,584.58 crore in the December quarter as compared to Rs 711.17 crore in the corresponding period of the last fiscal.

Its revenue from operations stood at Rs 12,254.12 crore, up 17.38 per cent, during the quarter under review as against Rs 10,439.34 crore in the corresponding period of the last fiscal.

During the quarter, it had a volume growth of 14 per cent to 22.82 million tonnes, it said.

“Recovery from the COVID-19 led to the disruption of the economy. This has been fuelled by quicker demand stabilisation, supply-side restoration and greater cost efficiencies,” UltraTech Cement said in a post earning statement.

Company’s total expenses were at Rs 10,190.03 crore in the third quarter of financial year 2020-21.

It had posted its total expenses at Rs 9,611.08 crore in the October-December quarter a year ago.