UltraTech Cement’s stock price surged over 2% on Tuesday following the release of its Q4 results by the Aditya Birla Group’s flagship cement maker. The shares of UltraTech Cement climbed as high as 2.38% to Rs 10,200 per share on the BSE.
The nation’s leading cement manufacturer posted impressive earnings for the January-March quarter, with its consolidated net profit soaring by 36% to Rs 2,258 crore from Rs 1,666 crore year-on-year (YoY), surpassing market expectations. This growth was driven by a reduction in fuel costs and double-digit volume growth.
Consolidated revenue from operations in Q4FY24 witnessed a robust 9.4% YoY increase to Rs 20,419 crore. Operating at an impressive level, UltraTech Cement achieved an EBITDA of Rs 4,250 crore, with a margin of 20.81%.
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Elon Musk’s tumultuous month atop Twitter Inc. has already included firing most of the company’s employees, tinkering with key features and restoring banned accounts. Now he’s embarking on what could be his riskiest gambit yet: a war with Apple Inc.
The billionaire attacked the iPhone maker with a flurry of tweets Monday, saying the company had cut its Twitter advertising and threatened to bump the social network from Apple’s app store. He asked whether Apple hated free speech, criticized its app fees and even pondered whether the tech giant might go after another of his companies, Tesla Inc.
In taking aim at Apple, Musk is challenging a company that’s vital to Twitter’s livelihood. Apple was consistently one of the top advertisers on the social network, which had an entire team of employees dedicated to helping maintain the relationship, according to people familiar with the matter. The ad spending was well above $100 million annually…