Photo: ReutersMumbai: UltraTech Cement Ltd, India’s largest cement maker, on Monday said its net profit in the quarter ended 30 September rose 25.27% from a year ago because of higher other income. The company reported a consolidated net profit of Rs.614.30 crore in the July-September quarter compared to Rs.490.39 crore a year ago. Net sales dropped 2.53% to Rs.5,709 crore from Rs.5,857 crore, as per Indian Accounting Standards (IndAS). In a Bloomberg poll, two brokers had estimated consolidated net sales at Rs.6,322.40 crore and net profit at Rs.701.40 crore. On a standalone basis, net sales dropped 2.33% to Rs.5,398 crore, while net profit rose 31.51% from Rs.457 crore to Rs.601 crore in the quarter.

Source: Mint October 17, 2016 08:26 UTC