Ultratech Cement, an Aditya Birla Group company, has registered a growth of 53 per cent in its profit after tax (PAT), which surged to Rs 250.9 crore for the quarter ended September 30, 2009, against Rs 164.19 crore for the quarter ended September 30, 2008.

In addition, net sales of the cement manufacturer has increased to Rs 1,541 crore in the latest quarter from Rs 1,396 crore of the corresponding quarter last year,

Further, the company has also witnessed surge in its total income, which increased to Rs 1,571.59 crore for the quarter ended September 30, 2009, compared with Rs 1,424.04 crore for the quarter ended September 30, 2008

Recently Ultratech Cement has revealed its capex plan worth Rs 2000 crore. The company will utilize the amount for setting up a 25MW Thermal Power Plant at its unit in Awarpur, Maharashtra and for setting up an additional grinding and evacuation facility at its unit in Gujarat.

Karvy Stock Broking has recommended an underperformer rating on Ultratech Cement with a price target of Rs 759, in its report dated October 15, 2009. The shares of the company closed on Friday at Rs 825, down 2 per cent compared to its previous close.