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UltraTech Cement fiscal Q2 profit climbs 47.8% YOY

UltraTech Cement Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 20.37 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 21.43 rupees per share.

EPS increased 47.7% year over year from 13.78 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.59 billion rupees, a gain of 47.8% from 3.79 billion rupees in the prior-year period.

The normalized profit margin rose to 9.8% from 6.4% in the year-earlier period.

Total revenue fell year over year to 57.09 billion rupees from 59.51 billion rupees, and total operating expenses fell 8.0% on an annual basis to 48.24 billion rupees from 52.45 billion rupees.

Reported net income rose 43.9% from the prior-year period to 6.14 billion rupees, or 22.37 rupees per share, from 4.27 billion rupees, or 15.55 rupees per share.

As of Oct. 17, US$1 was equivalent to 66.79 Indian rupees.