UltraTech Cement Ltd.’s fourth-quarter profit rose surpassing estimates, aided by lower costs.
The cement maker’s net profit rose 12% quarter-on-quarter to Rs 1,775 crore in the three months ended March, it said in an exchange filing. That compares with the Rs 1,645-crore consensus estimate of analysts tracked by Bloomberg.
Revenue rose 17.5% over the preceding quarter to Rs 14,406 crore. Analysts polled by Bloomberg had projected Rs 13,460 crore.
Operating profit rose 18.9% sequentially to Rs 3,690 crore—the highest at least since the first quarter of the financial year 2015, according to data compiled by Bloomberg. Analysts had expected Rs 3,152 crore.
Lower costs aided the operating performance. Power and fuel expenses came down to 18.7% of sales from 19.6% in the preceding quarter. Employee benefit expenses fell from 5% to 4.3% of sales.
The reported number, however, includes other expenses like the one-time expense of Rs 130.6 crore against various disputed liabilities
Shares of UltraTech Cement closed 1.19% on Wednesday ahead of the earnings announcement compared with a 0.52% gain in BSE Sensex.