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What should investors do with UltraTech Cement post Q2: buy, sell or hold?

The company reported an exceptional loss of Rs 335.73 crore.

October 22, 2020 / 02:56 PM IST

UltraTech Cement share price added 2 percent in early trade on October 22 after the company reported strong numbers for the quarter ended September 2020.

The company has reported a 113 percent YoY increase in Q2 FY21 consolidated net profit mostly due to the sale of its Chinese subsidiary.

Consolidated profit surged to Rs 1,235 crore in the quarter ended September 2020 from Rs 579 crore in the same period last year.

The company reported an exceptional loss of Rs 335.73 crore, including an impairment provision of Rs 57.92 crore, towards old advances for purchase of certain land and impairment provision of Rs 271.18 crore which has been made on a loan receivable (asset held for sale).