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A person installs an UltraTech Cement billboard at his store in Ahmedabad, India, July 28, 2022. REUTERS/Amit Dave/File Photo Acquire Licensing Rights
BENGALURU, Oct 19 (Reuters) – India’s UltraTech Cement (ULTC.NS) on Thursday reported a 69.5% rise in second-quarter revenue, boosted by increased demand within the infrastructure and actual property section.
The firm reported a consolidated web revenue of 12.81 billion rupees ($153.8 million) for the quarter ended Sept. 30, whereas income grew 15.3% to 160.12 billion rupees.
The firm earlier this month reported a 15% year-on-year enhance in Q2 home gross sales of gray cement at 25.24 million metric tons.
Meanwhile, the corporate’s prices rose 12% led by rise in price of supplies consumed together with freight and forwarding bills.
Analysts at Nomura mentioned they anticipate India’s cement business to report 12%-14% year-on-year quantity progress within the second-quarter, led by a powerful restoration in early-August and September 2023, and decrease base impact.
($1 = 83.2775 Indian rupees)
Reporting by Ashish Chandra in Bengaluru
Our Standards: The Thomson Reuters Trust Principles.
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