Ultratech Cement, a Grasim subsidiary has registered a growth of 57.64% in its net profit, which rose to Rs 417.77 crore for the first quarter ended June 30, 2009 over the same period last year.

The company had posted a net profit of Rs 265 crore in the same quarter ended June 2008.

However the company's total income rose to Rs 1,987 crore in the latest quarter against Rs 1,522.5 crore in the same quarter in the previous fiscal.

Shares of Ultratech Cement today closed at Rs 771, up 0.67 per cent, compared to previous close of 770.