UltraTech Cement, India’s largest cement maker, on Monday said its net profit in the quarter ended September 30 rose 25.27% from a year ago helped by higher other income.
The company reported a consolidated net profit of Rs 614.30 crore in the July-September quarter against Rs 490.39 crore a year ago. Net sales dropped 2.53% to Rs 5,709 crore from Rs 5,857 crore.
The earnings lagged market estimates. According to a Bloomberg poll, analysts estimated consolidated net sales at Rs 6,322.40 crore and net profit at Rs 701.40 crore.
Earnings before interest, depreciation, taxation and amortization in the quarter was up 16% to Rs 1,378 crore from Rs 1,186 crore a year ago. On a standalone basis, net sales dropped 2.33% to Rs 5,398 crore, while net profit rose 31.51% from Rs 457 crore to Rs 601 crore in the quarter. Total sales volume rose 11.2 mt, which is a 1% increase.