UltraTech Cement Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 14.52 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 21.53 rupees per share.

EPS decreased 28.7% year over year from 20.37 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.99 billion rupees, a decrease of 28.7% from 5.59 billion rupees in the year-earlier period.

The normalized profit margin fell to 5.8% from 9.8% in the year-earlier period.

Total revenue climbed 21.5% year over year to 69.36 billion rupees from 57.09 billion rupees, and total operating expenses grew 25.7% on an annual basis to 60.63 billion rupees from 48.24 billion rupees.

Reported net income fell 31.2% from the prior-year period to 4.23 billion rupees, or 15.39 rupees per share, from 6.14 billion rupees, or 22.37 rupees per share.

As of Oct. 18, US$1 was equivalent to 65.07 Indian rupees.