India’s largest cement maker by capacity, said Wednesday its third quarter consolidated net profit jumped 60% as power and fuel costs fell.
Consolidated net profit for the quarter ended Sept. 30 rose to INR4.16 billion from INR2.60 billion, the company said in a statement to the Bombay Stock Exchange.
Consolidated net sales increased 9.3% to INR20.77 billion from INR19.00 billion.
The earnings beat market estimates. Eleven analysts in a Dow Jones Newswires poll had on average expected net profit at INR3.98 billion on net sales of INR19.83 billion.
