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UltraTech Cement profit misses consensus by 44.3% in fiscal Q4

UltraTech Cement Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 14.75 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 26.50 rupees per share.

EPS declined 26.7% year over year from 20.12 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.05 billion rupees, a decrease of 26.7% from 5.52 billion rupees in the year-earlier period.

The normalized profit margin declined to 5.6% from 8.2% in the year-earlier period.

Total revenue grew 7.2% year over year to 72.06 billion rupees from 67.23 billion rupees, and total operating expenses climbed 8.0% from the prior-year period to 60.45 billion rupees from 55.97 billion rupees.

Reported net income fell 20.6% on an annual basis to 7.26 billion rupees, or 26.44 rupees per share, from 9.14 billion rupees, or 33.29 rupees per share.

For the year, the company's normalized net income totaled 78.94 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 94.27 rupees.

EPS rose from 70.30 rupees in the prior year.

Normalized net income was 21.68 billion rupees, a gain from 19.30 billion rupees in the prior year.

Full-year total revenue amounted to 253.75 billion rupees, compared with 251.53 billion rupees in the prior year, and total operating expenses fell year over year to 213.31 billion rupees from 215.68 billion rupees.

The company said reported net income grew on an annual basis to 27.15 billion rupees, or 98.88 rupees per share, in the full year, from 24.78 billion rupees, or 90.25 rupees per share.

As of July 19, US$1 was equivalent to 64.29 Indian rupees.