This Article is From Apr 24, 2017

UltraTech Cement Profit Beats Estimates; Shares Hit Record High

UltraTech Cement Profit Beats Estimates; Shares Hit Record High
India's largest cement producer UltraTech Cement reported a better-than-expected quarterly consolidated profit, sending its shares to a record high on Monday.

Consolidated profit of the company, in which Aditya Birla Group is the majority shareholder, fell to Rs 726 crore in the quarter ended March 31, hurt by higher expenses.

Still, the consolidated profit beat analysts' average expectation of Rs 593 crore, according to Thomson Reuters data.

Total income from operations rose about four percent to Rs 8,165 crore.

Shares of the company, which manufactures products catering to construction needs from foundation to finish, rose as much as 5.8 percent to a record high of Rs 4,209.
© Thomson Reuters 2017