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UltraTech Cement fiscal Q3 profit climbs YOY

UltraTech Cement Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2016, was 18.23 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 16.13 rupees per share.

EPS increased year over year from 17.42 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.01 billion rupees, a gain from 4.78 billion rupees in the year-earlier period.

The normalized profit margin increased to 8.4% from 7.8% in the year-earlier period.

Total revenue fell on an annual basis to 59.27 billion rupees from 61.08 billion rupees, and total operating expenses decreased on an annual basis to 50.81 billion rupees from 52.55 billion rupees.

Reported net income grew 8.9% year over year to 5.95 billion rupees, or 21.65 rupees per share, from 5.46 billion rupees, or 19.88 rupees per share.

As of Jan. 20, US$1 was equivalent to 68.06 Indian rupees.