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UltraTech Cement profit misses consensus by 23.3% in fiscal Q2

UltraTech Cement Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 11.67 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 15.21 rupees per share.

EPS increased 31.5% year over year from 8.87 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.20 billion rupees, an increase of 31.6% from 2.43 billion rupees in the year-earlier period.

The normalized profit margin rose to 5.6% from 5.0% in the year-earlier period.

Total revenue increased 18.0% year over year to 57.23 billion rupees from 48.49 billion rupees, and total operating expenses rose 16.1% year over year to 51.05 billion rupees from 43.96 billion rupees.

Reported net income increased 48.0% from the prior-year period to 4.14 billion rupees, or 15.09 rupees per share, from 2.80 billion rupees, or 10.20 rupees per share.

As of Oct. 17, US$1 was equivalent to 61.46 Indian rupees.