UltraTech Cement misses Q1 earnings estimates on muted pricesRevenue, rose 2% year-on-year to 180.70 billion rupees, but also fell short of analysts' average estimate of 181.17 billion rupees.
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Credit: www.ultratechcement.com
Bengaluru: India's UltraTech Cement reported first-quarter results below estimates on Friday, hurt by muted prices and intensifying competition.
The company reported consolidated net profit of 16.97 billion rupees ($202.9 million) in the quarter ended June 30, up 0.5 per cent from last year. Analysts were expecting a profit of 17.02 billion rupees, as per LSEG data.
Revenue, rose 2 per cent year-on-year to 180.70 billion rupees, but also fell short of analysts' average estimate of 181.17 billion rupees.