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UltraTech Cement profit misses consensus by 21.1% in fiscal Q1

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UltraTech Cement profit misses consensus by 21.1% in fiscal Q1

UltraTech Cement Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 20.55 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 26.05 rupees per share.

EPS decreased year over year from 20.86 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.64 billion rupees, a decrease from 5.72 billion rupees in the prior-year period.

The normalized profit margin dropped to 9.4% from 10.9% in the year-earlier period.

Total revenue climbed 13.6% on an annual basis to 59.89 billion rupees from 52.72 billion rupees, and total operating expenses grew 17.2% from the prior-year period to 51.90 billion rupees from 44.29 billion rupees.

Reported net income decreased 5.9% from the prior-year period to 6.27 billion rupees, or 22.85 rupees per share, from 6.66 billion rupees, or 24.29 rupees per share.

As of July 18, US$1 was equivalent to 60.44 Indian rupees.